The International Monetary Fund is determined to quit the troika of lenders if the fund fails to agree with the EU on debt restructuring for Greece. Some sources reporting the news refer to Wikileaks. To be more specific, it is reported that the IMF is going to put Angela Merkel in an uncomfortable situation where she has to choose between agreeing on certain debt restructuring conditions put forward by the IMF and having to finance the Greek debt on her own.
Most likely, it is all about some disagreement between the lenders regarding tax hikes and pension cuts, which are seen as unacceptable by Greece. At the same time, Angela Merkel and European Commission officials now seem to have been inefficient to urging Greece to accept their conditions. At the same time, the IMF is especially worried about a possible Greek default matching the forthcoming Brexit referendum in the U.K. If that’s the case, the entire process of making bureaucratic decision in the EU is going to be frozen.
Moreover, the Eurozone inflation rate remained below zero in March 2016. However, the pace of decline slowed down. According to the preliminary report released by Eurostat, the Eurozone’s consumer prices dropped 0.1% in March relative to February’s 0.2%.
Forex
According to the SRP Department of Masterforex-V Academy (AO_Zotik and WPR_VSmark), EURUSD keep on developing the same recovery of level Weekly against the recent long-term trend. The SRP analytic tool shows us an ABC price pattern. There is a smaller-scale ABC pattern inside wave C of the bigger one. The closest levels of resistance are 1.1670 and 1.1749.
