Greece: What (a) relief? - Rabobank

Analysts at Rabobank note that Greece is still waiting for money necessary to repay creditors in July.

Key quotes:

"While Greece has almost done its part to qualify for the next tranche of funds, creditors are still unable to agree over debt relief measures."

"We expect a deal on one of two next Eurogroup meetings, either 15 June (most likely) or possibly 10 July."

"In any case, we believe Athens will receive funds in time to prevent a credit event. This will lower liquidity risk for the short term."

"We also think that the measures Greece needs to implement can improve Greece’s competitiveness, financial stability and fiscal sustainability. Yet without significant debt relief, debt sustainability remains questionable in our view."