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Tsipras says there no return to austerity

Monday, Mar 16 2015

Since there are no major data releases from Eurozone today, traders are once again turned to global concerns, primarily resolution of Greek bailout crisis. Greece will not accept any return to austerity, leftist Prime Minister Alexis Tsipras said on Monday, adding that he was convinced he would strike a deal with international partners to keep finances afloat. "Whatever obstacles we may encounter in our negotiating effort, we will not return to the policies of austerity," the prime minister said.

According to Tsipras"the key for an honourable compromise (with the EU/IMF creditors) is to recognise that the previous policy of extreme austerity has failed, not only in Greece, but in the whole of Europe.'' He also believes that ''the issue will be solved at a political level by the end of the week in the run up to the EU summit, or, if necessary, at the EU summit (itself).''

 

After huge decline last week, euro is currently in the rebound, being traded few points above 1.0530 level. Later today, in the US session, Empire State Manufacturing Index and Industrial Production figures are scheduled for a release.

More in this category: « New Motor Vehicle Sales up by 2.9% Sterling higher in a steadier Monday's session »

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