Wyn Thomas - Axys Investment Management

Weekly Market Update 6th July 2015

GREECE SET TO DECIDE ITS FUTURE

The Greek debt crisis took a considerable step forward with the country officially defaulting on payments to the IMF this week. The consequences so far have been muted, although not for the Greeks. Over the last few weeks the deadline of the IMF payment has been talked up as the point of no return, but now that we’re past this point it seems that there might be a few more after all. A “Yes” vote in the referendum on whether the Greek people should bow to creditor demands would see the end of the Syriza government and a completely new set of negotiations begin, with something workable potentially emerging now that the terribly thought out bailout package has expired and much of the animosity between the parties removed. Read More…..