Forex - EUR/USD, EUR/CHF Flows: Kathimerini: Greek debt solution remains elusive; EU Summit

Published at 03:50 (GMT) 22 Nov

EUR/USD, EUR/CHF Flows: Kathimerini: Greek debt solution remains elusive; EU Summit (FDOC5401)

Kathimerini : Options on table after Eurogroup failure, as PM flies to Brussels for EU summit. PM Antonis Samaras arrived in Brussels Wed for a EU leaders' summit hoping for reassurances that a solution to Greece's debt sustainability problem would be found when the Eurogroup meets again on Monday.

Kathimerini understands that the eurozone and the IMF are about 4% apart on their predictions regarding where Greek debt will stand after a series of measures to reduce it. The two sides are aiming to agree on a formula that would reduce what Greece owes to its lenders to 124 percent of GDP by 2020 and 108 percent by 2022.

On FX, ongoing focus on Greece, first at the EU Summit- where the 2014-2020 EU budget will be the focus. Then on Nov 26 Eurogroup meet on Greece EUR44bln loan payment. EUR/USD at 1.2845-46, offers 1.2860-70, bids at 1.2820-30, stops below 1.2800. EUR/CHF at 1.2053-55, eye SNB bids at 1.2030-40, offers at 1.2060-80/1.2100,. WL

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