EU governments are putting together a possible rescue package for Greece as they demand it first steps up efforts to cut the bloc’s biggest budget deficit, Bloomberg reports.
“Greece won’t be allowed to sink on the condition it respects its commitments to stabilize its budget,” French Finance Minister Christine Lagarde told Europe 1 radio today. “We have a certain number of proposals in the euro zone, involving either private partners or public partners or both.”
What does that mean for us forex traders? Possibly (a short-term) a flight back to riskier assets. Bullish on NZD/JPY, etc. But still at 1 am (GMT) on March the 1st we’ve got the Chinese PMI coming out. If it’s lower than expected there might be a sell off in NZD and AUD.
