Tuesday, July 14, 2015
What's Next For Greece?
While the summit agreement may have quelled the fears of a Eurozone exit by Greece for now, there is still much to be done to make this process appear even somewhat orderly. Most immediately, the Greek parliament must pass these new measures into law by Wednesday. No easy task as just last week Tsipras held a referendum to which the country voted a resounding "no" to measures seen as much less harsh than these latest terms. Digging up the necessary support to pass the agreement into law is going to require a good bit of political creativity by the Prime Minister and may ultimately cost him his job.
Bloomberg was out yesterday with a helpful timeline of the deadline's that must now be confronted.
We'll see how, and if, the timeline above impacts the future direction of the market.
Ryan Worch is the Managing Director of Worch Capital LLC. Worch Capital LLC is the general partner of a long/short equity strategy that operates with a directional bias and while emphasizing capital preservation at all times.
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