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Euro remains rangebound
Greek finance minister Yanis Varoufakis tried his hardest to play hard ball with the Troika and get the best deal possible for Greece; however, it always looked likely that the reluctance of Germany to show any real flexibility would ultimately come out on top.
Compromise was always going to have to come from Syriza, who must now go back to the Greek public with the less-than-impressive news that austerity is there to stay for the time being.
The bigger picture is that the Eurozone remains intact, and any encouragement other countries might gain for trying to force greater flexibility is diminished.
As well as developments coming out of Greece we will also hear from Mario Draghi today. Although he is not expected to discuss Greece or the European Central Bank’s current tactics, this is still likely to come up.