Rumors have been circulating that a deal may have been struck yesterday. German Chancellor Angela Merkel, French President Francois Hollande and Greek finance Minister Alexis Tsipiras all agree there is a need for deal and time is of the essence.
Their telephone call on Sunday was described as “constructive”. I personally think Greece will make their payment on Friday and remain in the Eurozone, which should see the Euro strengthen over Sterling. Questions still remain over whether the Greeks will be able to raise the capital for the more substantial €600 million payment to the IMF and ECB. The uncertainty regarding the Euro continues.
Current market conditions for Euro buyers are still very favorable, sitting close to the eight year high of late. I have witnessed many trying to hang on for that extra buck and get caught out.
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