Greece On Spot Again

Pay close attention to the next three days when left politician side of Greece will be struggling to form a new Government after the center-right failed to form a coalition last Sunday. Important to remember that the left side is opposed to austerity (as the new France President also is) and next days can be decisive to determine if Greece will or will not continue being part of the Euro Zone. Take care of your portfolio as impacts are already perceived.

Greece Parliament makes its homework but the bailout package is still under discussion!!

Greece Parliament was able to approve, late last night, the austerity package that includes, but is not limited to, thousands of Government jobs cut as well as cuts in minimum wages, pension funds and health care. Although that was a mandatory requirement for them to have approved prior to start receiving the more than USD 170BB rescue package loan, the Euro zone leaders are again discussing the details involving the loans amount and sustainability, which clearly does not put an end in the Greece bailout matters and show Euro countries lack of full consensus so far. Keep an eye on this discussion!!