Jitters from Eurogroup failure
Tuesday's inconclusive Eurogroup teleconference, which will resume on Thursday, sent jitters across European markets, which had expected a decision to protect eurozone economies from the coronavirus avalanche. However, Greece's securities fared much better on Wednesday thanks to the return of the European Central Bank's waiver that allows Greek bonds to be used as collateral for local banks to secure liquidity again.
Greek Finance Minister Christos Staikouras stated on Wednesday morning that "the Eurogroup meeting has not ended up in an agreement, despite the fact that there was significant progress regarding a more ambitious package of measures." He added that "there remain some differences between eurozone member-states in spite of the considerable progress, but it is estimated they will be covered" in Thursday's second round of talks.
Greek bond yields eased...