Troubles in Greece have a negative impact on the euro, but it is hard to see the full impact as the euro has bigger forces pushing it down.
Nevertheless, some signs of confidence from the small nation could help in some stabilizing.
Greece’s finance minister Yanis Varoufakis continues providing colorful statements: he says that the cash flow problem in Greece is “relatively small” and that the next loan tranche is “not the priority”. So is everything good for Varoufakis and his country?
Not exactly: he did have some negative things to say about the ECB: the institution is “asphyxiating” Greece according to the minister. He also had some unpleasant words for his German counterpart Wolfgang Schäuble, which is quite understandable given the bullying from Berlin.
The markets are now focused on the implementation of the ECB’s QE and the upcoming Fed decision on March 18th. Central banks still have the upeer hand in moving markets.
Nevertheless, it is important to keep tabs on Greece: it might be on the back-burner but never too far from the headlines.
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