Currency Note Euro

Greek bailout programme under the Eurozone spotlight

By Ricky Bean August 17th, 2015

The euro remained almost unchanged against the US dollar on Friday while it weakened off against sterling during the afternoon. Investors were predominantly focusing on upcoming data releases in the form of Eurozone inflation and growth, while the Greek Parliament continued to debate and finalise the conditions of a third bailout plan ahead of a key vote. Greek Prime Minister Alexis Tsipras’s has managed to secure a parliamentary vote on the bailout package, at the expense of criticism from members of his own party. The Eurogroup of finance ministers commenced a meeting to discuss the bailout on Friday.
For this week there is little economic data out from the Eurozone, save flash Purchasing Managers’ Index (PMI) data from Germany and France on Friday. Other than that, the week’s spotlight will shine on Greece. The main focus will be whether it can secure a deal for the third bailout by the 20th August deadline. If a deal is struck then this would be the perfect respite for Greece as it would guarantee funding for the coming months.