News Headline Summary
Fitch says further cuts in Euro group interest rates would deliver only modest cash flow relief in 2013-2016
- We think the Euro group will extend the program by 2 years to 2016. An extension could mitigate the economic impact of further austerity, but we estimate that it would add about EUR 22bln (11% of GDP) to Greece's fiscal financing needs in 2013 - 2016.
- Factors in a 2 year extension and weaker economy, and points to a further deterioration in Greek public debt dynamics compared to March forecast.
09 Nov 2012 - 06:50
Subscribe Now to RANsquawk
Click here for a 1 week free trial
RANsquawk provides audio news and commentary for over 15,000
professional traders and brokers worldwide. Services include:
Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
Teams of analysts covering equities, fixed income, FX, energy, and metals markets
Real-time scrolling news service with instant analysis
Daily and weekly pre-market research and calendars
Video updates covering near-term key risk events & primary trading themes
One-to-one chat with our expert analysts