Eurogroup does not extend the bailout to Greece

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The Eurogroup made a decision without Greece. The 18 ministers said they regret the decision about the Greferendum and there is no extension of the bailout, that expires on June 30th.

Eurogroup chief Dijsselbloem announces the decision and seems to reflect the loss of patience.

Update: Report: ECB to end Greek ELA – Grexit chances are high

  • He says that easy programs are not available
  • No comprehensive package from the euro-zone.
  • He doubts that even if the referendum results in Yes, there will not be full implementation.
  • There are hints that the Greek parliament is not fully informed.
  • It is unclear what Greeks will vote on, if the bailout has already expired.
  • We are still prepared to support Greece
  • There must be ownership, but it is not available at the moment.
  • Regarding the ELA, that keeps Greek banks alive, he passes the question to the ECB.
  • Greece has an obligation to its creditors.
  • The situation will deteriorate rapidly, says the minister.
  • Does not want to speculate on the situation
  • Talks to resume without Varoufakis, Greece’s finance minister.
  • Vows to strengthen the credibility of the euro-area.
  • Big problems of risk management for Greece up to the referendum
  • Even if there is a Yes, it is unclear with whom we are working.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

3 Comments

  1. i still don’t get why Greece took so long to respond. Things like this should be handled with urgent care. I keep seeing post saying we are going to slip back into a 2008 spell.

  2. so do u think that euro/usd will going back up or keep going down? what is your opinion?