Greek parliament approves Austerity 2.0
For now, Greece remains on track to receive its second bailout, to avoid default and to stay in the euro but eventual success is far from assured.
This is perhaps why the reaction of the euro has been so muted. Although it is above the levels of Friday lunchtime it is unchanged from Friday morning’s opening positions against the pound, the US dollar, the yen and the Swiss franc. Today’s early gains were more an extension of Friday afternoon’s trend than a fresh upward thrust: Sunday’s vote in Athens went the way most investors expected and so provided no new momentum.
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