2 Jul 2015
Capital controls in Greece could last longer – BBH
FXStreet (Edinburgh) - According to the research team at BBH, the implementation of capital controls in Greece could extend beyond Monday, the day after the referendum.
Key Quotes
“While the Greek bank holiday is expected to last through next Monday, the day after the referendum, the risk is that it lasts longer”.
“On a "no vote" it is clear that the ECB would not increase the ELA, but even on a "yes vote", without an aid package, the ECB may also not be in a position to increase ELA immediately”.
“In fact, on a "yes vote", the economic and financial crisis will turn into a political crisis”.
“Tsipras has indicated that he does not want to be the prime minister to implement the creditors' program, even though as Juncker noted, he accepts most of it”.
Key Quotes
“While the Greek bank holiday is expected to last through next Monday, the day after the referendum, the risk is that it lasts longer”.
“On a "no vote" it is clear that the ECB would not increase the ELA, but even on a "yes vote", without an aid package, the ECB may also not be in a position to increase ELA immediately”.
“In fact, on a "yes vote", the economic and financial crisis will turn into a political crisis”.
“Tsipras has indicated that he does not want to be the prime minister to implement the creditors' program, even though as Juncker noted, he accepts most of it”.