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Trading news
24 Apr 2015
Eurogroup May 11th next opportunity - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers Harriman have noted that the
May 11 Eurogroup meeting is the next window of possibility to reach some kind of agreement.
Key Quotes:
"Before that on May 6, the ECB holds a non-policy making meeting and will discuss the haircuts applied to the collateral that Greek banks are using to access the ELA funds."
"The ELA is by definition an emergency facility, and the more doctrinaire wing is pushing back against what seems protracted use."
"The national central bank, not the Eurosystem, bears the risk for ELA borrowing even though the authorization comes from the ECB."
"Note that although there is not a policy making meeting in May, there are other decisions the ECB takes, and under the rotating voting scheme introduced this year, the Bundesbank will not vote next month."
May 11 Eurogroup meeting is the next window of possibility to reach some kind of agreement.
Key Quotes:
"Before that on May 6, the ECB holds a non-policy making meeting and will discuss the haircuts applied to the collateral that Greek banks are using to access the ELA funds."
"The ELA is by definition an emergency facility, and the more doctrinaire wing is pushing back against what seems protracted use."
"The national central bank, not the Eurosystem, bears the risk for ELA borrowing even though the authorization comes from the ECB."
"Note that although there is not a policy making meeting in May, there are other decisions the ECB takes, and under the rotating voting scheme introduced this year, the Bundesbank will not vote next month."