After months of political deadlock and two general elections earlier this year, Greece is struggling to meet the economic targets it has accepted as a condition of its bailouts. As Greece's Prime Minister, Antonis Samaras, has called for more time to implement tough spending cuts and reforms, ahead of talks on its bailout.
Jean-Claude Junker, the head of the Eurogroup is expected to arrive for discussion regarding a possible relaxation of the Greece bailout terms. Inspectors from the EU and IMF will try to work out if Greece has done enough to receive its next 31.5bn-euro (£24.7bn) bailout payment. Mr Samaras will be under pressure to show Greece can fulfil its commitment of 11.5bn euros in public spending cuts within two years in order to qualify for the money. Failure to unlock the funds could lead to Greece defaulting on its vast public debt and possibly leaving the euro.
Later in the day, the focus shifts to the Federal Reserve as the central bank releases minutes from Augusts’ meeting of the FOMC policy-setting committee.
Currency UK will offer you the best exchange rates available and ensure that your subsequent international transfers are handled as quickly and as efficiently as possible.
Do you want to earn some extra money? Then you can profit from our affiliate program by referring a company or friend that may benefit from our services and earn a commission in return. Contact us now on +44 (0)20 7738 0777 or click here.
Posted in Daily Market News on May 30 2014
The focus today will be on the UK public sector debt figures for July due this morning. The public finances have not gone to plan so far in this fiscal year with the level of debt being higher every month compared to the previous year.VIEW FULL ARTICLE
Posted in Daily Market News on Aug 21 2012 by alex