Greek Deal: Unmet Expectations?
November 27, 2012 - 5:34pm
Greek Deal: Unmet Expectations? Justin Burkhardt | FXFocus.com The long awaited Greek deal has finally come to fruition, or has it? The old adage that history has a way of repeating itself is something to consider here. Over the last 3 years talks of a Greek bailout have been continuous, yet without finality. Today it sounds like a decision has been made as Euro-leaders have unanimously decided to reduce Greece’s debt and recapitalize its banks via easing packages that will be broken down into four tranches. December 16th is set to be the “target” release date for the initial bailout tranche of $44 billion, but historically how many times have targets like this one been set and then pushed back and promptly ignored? I am not implying that this deal will not get done, just that we should expect the unexpected when it comes to government promises. Greece is obv...
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