Further negotiations will be due over the next few months to arrive at a more permanent agreement, to allow Greece to receive the medium term funding that it needs.
“We are a long way away from a final resolution to the Greek crisis. Further negotiations will be due over the next few months to arrive at a more permanent agreement, to allow Greece to receive the medium term funding that it needs. What is in doubt is if the opposing views of the German and Greek governments can be bridged in order to reach a longer lasting solution.
“At the heart of the matter is the need of the Greek economy to breathe and grow, while Germany is seriously concerned about the precedent any concessions will have for other Eurozone members. Current uncertainties are already hurting the Greek economy, with significant damage likely to be inflicted on its highly vulnerable banks.”
Ann Burton, KPMG Press Office
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This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.