Re: nincs cím

EUR, CHF: IMF to meet Greece, EU, and ECB Attention today will be squarely on the meeting between representatives from Greece, the IMF, the EU Commission, and the ECB. As Eurogroup Chairman Juncker pointed out, the purpose of the meeting is to draw up the "principles and parameters" of any future rescue of Greece, specifically regarding the amount, price, timeframe, and conditions attached to the funding. Commenting on the rescue package announced on Sunday night, Greece Prime Minister Papandreou said that it "sends a very clear message that no one, any longer, can play with our common currency", although an unnamed Greek official announced that Greece would decide in the coming days whether to activate the rescue package, depending on how sovereign yields react to the bailout plan. On Tuesday, the highlight will be the auction of EUR 1.2 bn worth of 6m and 12m Greek T-bills. Front-end yields have widened considerably in recent days, raising the prospect of a weak auction. Although the emergence overnight of a clearer blueprint for a Greek rescue plan may be enough to stimulate sufficient investor demand to cover the auction. On Friday, Fitch inflicted a double notch downgrade on Greece, cutting the rating to BBB-, the current eligibility threshold for collateral at ECB tenders. The outlook remains negative. Also on Friday, SNB board member Danthine did not comment on the franc or the SNB's current monetary policy stance. However he did note that, over the medium term, monetary policies would need to be normalized. Danthine was quoted in a weekend newspaper recommitting to the SNB's intervention policy, noting that "If we judge it appropriate to intervene to fight a rise in the franc, we can buy foreign currencies without limitation." SNB Vice-Chairman Jordan is due to speak on Thursday.