Euro Drops Following Juncker Statement IMF May Not Release Next Greek Tranche

Tyler Durden's picture

And some more headlines:

  • EU's Juncker says IMF may not release tranche for Greece next month
  • EU's Juncker says IMF needs 12-month Greek refinancing guarantee
  • EU's Juncker says governments unable to make up IMF portion

Full report from Reuters:

International Monetary Fund, IMF, may not be pay their share of aid to Greece next month.

It said the Eurogroup Chairman Jean-Claude Juncker on Thursday, according to Bloomberg News.

"There are specific IMF rules of these rules says that the IMF can only be take action when refinancing guarantees over twelve months, "he said.

"I do not think that the troika (EU / ECB / IMF) will conclude that this is given, "he continued

Elsewhere, Greece is already planning its upcoming series of 24 hour strikes which will make sure that Greek budget deficits continue to demonstrate that only the US is worse than the Mediterranean country when it comes to balancing its books.

That said, the EUR is very unhappy with the news...

But nowhere near as unhappy as Swiss exporters. The EURCHF just hit a new all time low as the scramble to frontrun the increasingly inevitable (Deutsche Bank earlier said it had already written off most of its Greek debt) approaches the final lap.