MBS Week Ahead: Light Domestic Calendar Leaves Focus on Eurozone as Greece Doubles Down

By Matthew Graham

Posted To: MBS Commentary

In many ways, the current tussle between Greece and its creditors is reminiscent of past iterations. There’s some bluffing, posturing, lying, feigned ignorance, and outlandish goals that both sides know will never be achieved. Past iterations have ended with Eurozone creditors being more lenient than they’d like to be and with Greece agreeing to more austerity than it can manage. If the historical script were to continue repeating itself, we’d slowly see a few concessions by both sides and another re-working of a bailout package sufficient to keep Greece in the Eurozone. The difference this time around is that Greece isn’t in the same sort of position when it comes to making concessions considering its government came to power on the very promise of dismantling the existing…(read more)

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