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29 Dec 2014
Greek elections pressurize euro – AceTrader
FXStreet (Barcelona) - The AceTrader Team explains that the political fiasco in Greece led specs to sell the euro ahead of the Asian open, with Greek PM Samaras facing another vote in parliament later today.
Key Quotes
“Euro came under initial selling pressure ahead of Asian open as short-term specs sold the single currency on political woes in Greece following w/end comments by Greek PM Samaras and German FinMin Schaeuble.”
“Reuters reported Greek PM Antonis Samaras faces a vote in parliament later toay that will decide whether the country goes to snap elections that could bring the leftwing Syriza party to power n derail an international bailout. Voting is due to start at midday (10:00 GMT), with the result likely around an hour later.”
“Reuters also reported Samaras warned lawmakers on Saturday against the snap election that will be called if he loses a key presidential vote in parliament on Monday, but said he was confident of winning if Greeks did go to the polls.”
“More w/end news worth noting which also contributed to euro's initial weakness ahead of Asian open Monday. Reuters reported German FinMin Wolfgang Schaeuble expressed his reservations against the ECB launching a bond buying stimulus program and praised Bundesbank president Jens Weidmann's arguments against such moves.”
“In an interview with Bild newspaper on Sat, Schaeuble repeated his view that structural reforms are needed in some of the struggling euro zone countries.”
“"The ECB can make its decisions independently," Schaeuble said. "But cheap money should not be allowed to dent the reform zeal in some countries. There is no alternative to structural reforms - if things are going to improve again”."
Key Quotes
“Euro came under initial selling pressure ahead of Asian open as short-term specs sold the single currency on political woes in Greece following w/end comments by Greek PM Samaras and German FinMin Schaeuble.”
“Reuters reported Greek PM Antonis Samaras faces a vote in parliament later toay that will decide whether the country goes to snap elections that could bring the leftwing Syriza party to power n derail an international bailout. Voting is due to start at midday (10:00 GMT), with the result likely around an hour later.”
“Reuters also reported Samaras warned lawmakers on Saturday against the snap election that will be called if he loses a key presidential vote in parliament on Monday, but said he was confident of winning if Greeks did go to the polls.”
“More w/end news worth noting which also contributed to euro's initial weakness ahead of Asian open Monday. Reuters reported German FinMin Wolfgang Schaeuble expressed his reservations against the ECB launching a bond buying stimulus program and praised Bundesbank president Jens Weidmann's arguments against such moves.”
“In an interview with Bild newspaper on Sat, Schaeuble repeated his view that structural reforms are needed in some of the struggling euro zone countries.”
“"The ECB can make its decisions independently," Schaeuble said. "But cheap money should not be allowed to dent the reform zeal in some countries. There is no alternative to structural reforms - if things are going to improve again”."