- This week the Greek government & the Euro zone finance ministers secured a deal of bailout extension by four months that is expected to keep the Greek banks from faltering and avoid a Grexit, at least for now.
- Despite so, the Greek situation continues to sour and fail to abate from headlines and market attention.
- Even after approval by the finance ministers, the Greek deal need the nod of the parliaments, where it is facing troubles namely in Greece & Germany.
- After four hours of closed door meet, it seem like Mr. Alexis Tsiparas has failed to convince lawmakers in his own party. Mr. Lafazanis leader of the hardliner left in the party has publicly condemned parts of the proposal.
- Similarly several German parliamentarians doubt the trustworthiness of the Greeks and fruitful negotiations over the specifics of the proposal. German parliament would hold the vote to approve the deal on Friday.
- Greece's finance minister mentioned that last month's tax target is below by € 1 billion and would be hard for the Greece to pay back IMF (€ 1.6 billion due in March) and ECB.
Despite the deal the investors are cautious and Euro, currently trading at 1.135 failed to decisively bounce back from its current range low of 1.127.
