Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: US Treasuries remained under pressure and the USD retained a firm tone against most of its major currency peers following a string of hawkish comments by two Fed officials supporting expectations of further Fed rate tightening in the near future.
GREECE: Following recent approval by the Hellenic Parliament of the relevant legislation required for the implementation of prior actions attached to the 1st programme review, the Eurogroup which convenes later today (15:00 CEST) is reportedly expected to open the door for the release of the next loan tranche. With respect to debt relief, a number of press reports suggested that today’s Eurogroup is unlikely to reach a final agreement as a divergence of views on the issue continues to exist between European creditors and the IMF.
SOUTH EASTERN EUROPE
CYPRUS: A more fragmented new parliament emerged from the elections in the Republic of Cyprus on May 22nd.
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