CD South Africa: Germany rejects Greece’s Trojan horse

Greece is no closer to a loan deal with the EU, with Germany being their fiercest opponent. The current loan programme will expire at the end of this month if no agreement is reached soon. Global markets will keep a close eye on the talks with the rand playing passenger in the ordeal. The local unit starts off at 11.67/$ this morning after failing to break 11.58/$ yesterday. Risk comes from Greece today as the talks could provide markets with some extra volatility. Have a great weekend all and good luck to the Proteas on Sunday! 

Commentary by Justin Lodewyk