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4 Mar 2015
Greece digging in pension funds to pay the IMF – Rabobank
FXStreet (Barcelona) - With Greece back in news, the Rabobank Team shares that the government might be digging in pension funds to pay the IMF, making the economic outlook for the Hellenic republic more uncertain for the months ahead.
Key Quotes
“Meanwhile, the latest news from Greece is that the government may be raiding pension funds to pay the IMF. To say that this bodes badly for the economic outlook over the next four months is an understatement (even if there is still no sign of any knock-on effect on the rest of the Euro periphery).”
“Indeed, the EU is already talking about a third “rescue” being needed for Greece in June, while Greece keeps saying it does not want one, while also refusing to contemplate a ‘Grexit’, which is the only alternative (leading to another question: are wombats indigenous to Europe too?”
Key Quotes
“Meanwhile, the latest news from Greece is that the government may be raiding pension funds to pay the IMF. To say that this bodes badly for the economic outlook over the next four months is an understatement (even if there is still no sign of any knock-on effect on the rest of the Euro periphery).”
“Indeed, the EU is already talking about a third “rescue” being needed for Greece in June, while Greece keeps saying it does not want one, while also refusing to contemplate a ‘Grexit’, which is the only alternative (leading to another question: are wombats indigenous to Europe too?”