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No progress is expected at Eurogroup meeting next week – DB

FXStreet (Edinburgh) - Analysts at Deutsche Bank remarked the recent comments by German officials, arguing that there won’t be any advance regarding Greece at the meeting on April 24th.

Key Quotes

Greece was the other notable headliner yesterday as comments from German Finance Minister Schaeuble in particular attracted attention”.

“Having downplayed earlier reports in German press Die Zeit that the German government was working on a plan to keep Greece in the Euro-area if the country defaulted, Schaeuble went on to say that ‘no one’ expects a solution for Greece at the Eurogroup meeting next Friday and that the current government in place has ‘destroyed’ previous progress”.

“Data released yesterday also showed that Greece missed its +1.5% budget surplus target for 2014 after posting +0.4%. S&P became the latest credit agency to act, downgrading Greece one notch to CCC+ (negative outlook)”.

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