tradingfloor.com Weekly Macro View Video - 23/06/11.

Greek debt respite; Focus shifts to FOMC

Greece’s Prime Minister George Papandreou got his much needed vote of confidence for his newly shuffled cabinet, thereby paving the way for parliament to pass the tough austerity measures required to release the next financial installment from the International Monetary Fund and the European Union in order to keep the heavily indebted nation afloat. This development has resulted in some respite (at least for a few days) so that, although Greece is by no means out of the woods, the focus can shift somewhat to the U.S. and more specifically comments by Federal Reserve Chairman Ben Bernake, following the Federal Open Market Committee meeting. Mads Koefoed, macro strategist, Saxo Bank discusses the key events still to be played out in order to save Greece from bankruptcy plus the expectations for U.S. monetary policy.

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