![Analysts: Greece's woes will continue to haunt markets despite deal Analysts: Greece's woes will continue to haunt markets despite deal](https://c.mql5.com/6/673/splash-644029.jpg)
Analysts: Greece's woes will continue to haunt markets despite deal
![Anton Voropaev Anton Voropaev](https://c.mql5.com/avatar/2014/9/54082662-8AEF.jpg)
Eurozone leaders agreed on a third bailout for the cash-strapped country early Monday. European stock markets surged on the back of a deal, while the initial euro rally quickly faded. Analysts now reflect on what markets should expect now that the deal is reached.
Marc Ostwald, strategist at ADM Investor Services International:
A ‘deal’ has finally been reached for Greece, and one which
demonstrates that democracy in the eurozone is completely and utterly
dead, insofar as the outlines are infinitesimally worse than those that
were rejected in the Greek referendum.
Indeed what is on the table as a
deal highlights that:
a) there is no long-term future for the eurozone;
b) the desire on the part of eurozone creditor nations to completely destroy the Greek economy — it can certainly be asserted that this is indeed a worse deal than the 1919 Treaty of Versailles.
Analysts at Oxford Economics:
Even if a deal can eventually be reached to keep Greece in the euro
area, the ramifications of this weekend’s incredible bloodletting will
have long-term consequences.
The damage done to relations between France and Germany may prove irredeemable, while the German suggestion that Greece be granted a short term euro area surely shatters the principle that membership of the euro area is irrevocable.
Craig Erlam, senior market analyst, Oanda:
The agreement is going to be a bitter pill to swallow for the Greek
people, only a week after they rejected what was probably a more
palatable version in the referendum.
The referendum was a last-ditch effort by Alexis Tsipras to pile the pressure on the country’s creditors, but in the end the risk backfired, and he appears to have now been forced into a humiliating U-turn.
Mike van Dulken, head of research, Accendo Markets:
Equities very much on the front foot this morning thanks to news that we finally have a deal from Brussels after a marathon 17-hour weekend summit between Greece and its creditors on a third bailout to avoid a ‘Grexit’ and keep the 14-year irreversible single currency alive. However, Greece is having to pay for trust lost amid protracted negotiations and the initial relief rally has already been checked by need for concrete agreement/approval on finer details. Another agreement to make an agreement. Oh joy.