August Market Commentary
Category: Market commentary & Uncategorized
July was a dramatic month. Greece held a referendum and emphatically rejected the austerity package offered by its creditors. Motor-cycle riding Finance Minister Yanis Varoufakis resigned, calling the creditors âterroristsâ, and the new finance minister, Euclid Tsakalotos, was seen going into yet another final, final crisis meeting with his negotiating position scribbled on hotel notepaper. In the event a bailout was finally agreed â Agreekment averts Grexit according to the headlines â more or less along the lines of the bailout that had been rejected in the referendum.