Wyn Thomas - Axys Investment Management

Weekly Market Update 8th June 2015

GREECE SHOCKS IMF BY WITHOLDING €300M

Greece fired yet another warning shot this week, when it decided to delay a loan repayment to the IMF. This is not the tipping point some have been predicting, Greece has the money to make the payment and the delay was allowable as part of the contract. Instead this is yet another act designed to convince the IMF and the rest of the Eurozone that it isn’t bluffing and will default if it doesn’t get the deal it wants. As an act of defiance it’s much like a child threatening to run away from home and putting their toys by the front door to show they’re really serious. Meanwhile Germany has reached two and a half in its “don’t make me count to three” routine. Read More…..