The beleaguered Greek Prime Minister managed to claim a victory yesterday after managing to reach across the aisle to the coalition’s opposition factions to garner their support for institution of additional measures to unlock negotiations with creditors. Dissent and mutiny within Syriza is cause for concern as the party splits down the middle into camps for and against further bailouts. This is raising the specter of snap elections to be called in coming months, especially with an additional vote in August on the matter of pensions and farm taxes which are projected to be explosive votes with staunch opposition. Meanwhile, capital controls remain in effect with withdrawal limits for bank customers. The ECB raised the ELA bank support facility once more to accommodate continued Greek deposit outflows as bankers beg and plead for customers to return cash to banks.
Greece Passes Bailout Measures
Daily Analysis - 23/07/2015