Intra-Day News and Views EUR/USD

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Intra-Day Market Moving News and Views
28 Nov 2016 01:14GMT

EUR/USD - Saturday, European Central Bank Executive Board member Benoit Coeure said on Greece's bailout performance review is progressing well and its timely conclusion will be a key factor in including the country's bonds in the ECB's asset buying scheme.

Greece's official creditors are assessing its performance against reforms and fiscal targets set in its bailout programme of up to 86 billion euros ($91.02 billion) agreed last summer, its third since its debt crisis exploded in 2010.
The Eurogroup of euro zone finance ministers is scheduled to meet on Dec. 5 to take stock of the progress made and set a timeline for the completion of the review.
Greek government officials said this week that there were still differences between Athens and its lenders on fiscal targets and labour and energy reforms.
Coeure said it was "vital" for Greece that the financial aid programme which ends in 2018 succeeds, noting that a fourth bailout "is not an option anyone is considering."

He said that the ECB did not have a precise timeline on including Greek government bonds in its asset buying scheme, a move Athens has high hopes for as it would help it regain market access before the bailout ends.
The ECB's Governing Council would base its assessment also on an internal analysis, taking into account other risk management considerations before making the final decision.

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