Market Caution Before EU Summit

23 May

Shares either retreated slightly or became more subdued yesterday on concerns over Wednesday’s meeting as hopes for fresh measures to tackle the Eurozone debt has seemed to fade.



There are renewed fears Greece would leave the euro bloc dampening appetite for riskier assets. Personally, this would be financial suicide for Greece and the words from the former Greek PM Lucas Papademos support this belief, although anything is possible.

Lucas Papademos told CNBC ” there are no preparations underway in Greece for possibly exiting the Euro”.

EU leaders are expected to discuss regional bonds jointly underwritten by all Eurozone member states. New French President Francois Hollande supports the proposal but German Chancellor Angela Merkel is opposed to it.

On the other side of the world, the Bank of Japan concluded a two-day policy meeting announcing it has no plans to introduce any further easing policies or programs. This is as expected by the markets.

 My contact details are :- tel 029 2020 1241, email, twitter welshmoneywiz, linkedin Darren Nathan

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