Watch the interview of Trevor Williams Chief Economist, Lloyds Bank with Menaka Doshi on CNBC-TV18, in which he shared his expectations from the Euro group meeting and what it will mean for Greece and the rest of the Eurozone.
The European Central Bank (ECB) on Thursday decided to lower its benchmark interest rate by 25 basis points to 0.50 percent. Trevor Williams, Chief Economist, Lloyds Bank told CNBC-TV18 that these cuts aren't going to make a huge difference to the underlying growth prospects.
European Stability Mechanism (ESM), which is Europe‘s permanent rescue facility, is expected to come into force on October 8. Trevor Williams, Lloyds Bank says it probably is not going to start until next year.
After the EU leaders decided to sort out Spain and Italy‘s debt woes, the global markets saw an upside. However, Trevor Williams, Chief Economist of Lloyds Bank tells CNBC-TV18 that he is not very enthusiastic about it
Trevor Williams - chief economist, Lloyds Bank believes that this is the final act in the Greek tragedy that is playing out in the eurozone and he is a 100% sure that an exit is on the cards sooner rather than later.
Jeavon Lolay, director-global research of Lloyds Bank says, Europe is an economy that is fully expected to shrink in 2012.
Trevor Williams, Chief Economist at Lloyds Bank feels that Greece requires great political will to get out of the crisis it is facing.
Trevor Williams, economist at Lloyds Bank joins CNBC-TV18 to discuss what is happening in the euro zone, specifically Greece. EU and IMF expectations of Greece are unrealistic, he says. Greece has not been able to meet their needs in the past year and has not been able to pay back.