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Tsipras won a confidence to cancel bailout programme

Wednesday, Feb 11 2015
Greek Prime Minister Alexis Tsipras won a confidence vote on his plan to cancel bailout programme and challenge European leaders as both sides prepare for a showdown at meetings in Brussels this week. "We are not negotiating the bailout; it was cancelled by its own failure," he told parliament before winning the vote with the backing of 162 lawmakers in the 300-seat chamber.
 
"I want to assure you that there is no going back. Greece cannot return to the era of bailouts." That came after Schaeuble said that if Greece did not want a new aid programme, "then that's it," adding to a chorus of warnings from European policymakers urging Athens to seek an extension to the programme when it expires at the end of the month. European Commission would propose a six-month extension to Greece’s existing bailout program at an emergency meeting of the euro group of finance ministers, due to take place later in the day.
 
Euro is currently stable, being traded above 1.13 handle. Pair is likely to find support around 1.1270 and resistance above 1.1350 level. There will be no data releases in the US session so we can expect steadier rest of the session.
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