Greek solution close; room for global liquidity rally: HSBC

Philip Poole, global head of emerging markets at HSBC is upbeat about Greece. He tells CNBC-TV18 that the nation is getting close to a solution to the crisis and that a debt swap deal is most likely before March.

Poole expects the European Financial Stability Fund (EFSF) to run alongside the European Stability Mechanism (ESM) this year. He says that there is more room for the global liquidity rally and finds valuations attractive from medium-to-long-term. In India, he likes the consumer discretionary stocks.

Below is the edited transcript of the interview. Also watch the attached video.

Q: Does it seem likely after the debarring of the last few days that we will likely see a resolution on Greece which will be a positive outcome?

A: Certainly it seems to me that we are getting close to a solution on the swap to an agreement on the swap. There is a lot of noise obviously around that swap deal, a lot of apparently entrenched positions on both sides, on all sides in fact, but it strikes me that the deal will get done and we are quite close to it now. There is a question whether that ends up being enough with the present value of lost probably in the order of 70% on as instrument whether that