Europe has ring fenced 'Greece' for now: HSBC Private Bank
Arjuna Mahendran, the MD, Head Investment Strategy Asia, HSBC Private Bank tells CNBC-TV18, he expects the ECB to infuse 400 billion to 1 trillion euro via a second LTRO on February 29.
Finally, global market can breathe a little easy. Eurozone finance ministers announced a second bailout program that includes new financing of 130 billion euro. According to news reports, officials have confirmed that Greece will take steps to reduce its debt from around 160% of GDP now to 121% by 2020. Final Greek haircut for bondholders will be 53.5%.
Arjuna Mahendran, the managing director, Head Investment Strategy Asia, HSBC Private Bank tells CNBC-TV18, he expects the European Central Bank (ECB) to infuse 400 billion to 1 trillion euro via a second Long Term Refinancing Operation (LTRO) on February 29.
This year, many countries are gearing up for state elections. The big election result to watch out for is the US presidential election. Regions like the Middle East are also not likely to tip the scale and watch crude prices soar. Mahendran