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Global X FTSE Greece 20 ETF (GREK)

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  • Today, 4:46 AM
    • "A Greek exit is a possibility," IMF Chief Christine Lagarde told German newspaper Frankfurter Allgemeine Zeitung in an interview due to be published Friday.
    • Such an eventuality would "not be a walk in the park," she added, but would "probably not" mean the end of the euro.
    • Although cash-for-reform talks between Greece and its creditors have dragged on for months now, many see June 5 - the date when Athens will have to repay €1.5B to the IMF - as a coming deadline.
    • ETFs: GREK
    | 6 Comments
  • Yesterday, 3:52 AM
    • Hopes for a deal between Greece and its international creditors were quickly raised and dashed Wednesday when Greece's optimism for an agreement was extinguished by European officials - who denied a deal was near.
    • Not only did European Commission Vice President Valdis Dombrovskis say the two sides still had some way to go before any agreement could be concluded, but German Finance Minister Wolfgang Schaeuble also poured cold water on any hopes, saying he was surprised by Athens' upbeat tone.
    • FTSE 100 -0.2%; DAX -0.4%; CAC 40 -0.6%; Euro Stoxx 50 -0.6%
    • ETFs: GREK
    | 5 Comments
  • Wed, May 27, 10:35 AM
    | 6 Comments
  • Tue, May 26, 2:25 AM
    • Greece has again threatened to default on its loan repayments, saying it would be unable to meet pension and wage bills in June and also reimburse the IMF without a bailout deal with creditors.
    • "This money will not be given and is not there to be given," Nikos Voutsis, the interior minister, told the Greek television station Mega. "We won’t accept blackmail that says it's either liquidity with a memorandum or bankruptcy."
    • Athens' main ATG equity index fell 3.1% yesterday on the news.
    • Euro -0.6% to $1.0911.
    • ETFs: GREK
    | 15 Comments
  • Fri, May 22, 2:43 PM
    • German Finance Minister Wolfgang Schaeuble suggested the possibility of parallel currencies at a recent private meeting, reports Bloomberg, though he stopped short of endorsing the idea.
    • The Peterson Institutes's Jacob Kirkegaard suggests Germany is "ready to take this brinkmanship very far," with Schaeuble in the role of "attack dog."
    • SocGen's Sebastian Galy notes other non-EU countries incorporate the euro into their systems. Turkey is one, as is Montenegro - the example Schaeuble used in his meeting.
    • GREK -1.8%, NBG -3.2%
    | 8 Comments
  • Fri, May 22, 4:22 AM
    • With time running out for a deal to unlock the last €7.2B tranche of bailout funds, talks between Prime Minister Alexis Tsipras, President Francois Hollande and Chancellor Angela Merkel broke up shortly before 1 a.m. on Friday with the three deciding only to stay in close contact.
    • The leaders agreed that "significant progress" had been made, but "open issues" such as pensions, sales-tax rates and targets for a primary budget surplus remained.
    • ETFs: GREK
    | Comment!
  • Wed, May 20, 4:27 AM
    • Greece will not be able to make a €1.5B repayment to the IMF that falls due on June 5 if there is no deal with its international creditors by then, the government's parliamentary speaker said today.
    • "Now is the moment that negotiations are coming to a head. Now is the moment of truth, on June 5," Nikos Filis, from the ruling Syriza party, told Greek television.
    • Athens' ATG stock index -1.1%. Euro -0.4% to $1.1109.
    • ETFs: GREK
    | 4 Comments
  • Tue, May 19, 4:21 AM
    • Four months into negotiations there is still no Greek deal, although the country's labor minister is maintaining that Athens will soon conclude an agreement with its foreign creditors.
    • "There's a deadline, which is June 5," he said - the date on which Greece's next €1.5B repayment to the IMF falls due. "We all know that if there is no solution, let's say until then, in relation to funding, things will be difficult.
    • The long-running talks are rattling the euro - down 1.2% at $1.1181.
    • GREK -1% premarket
    | 7 Comments
  • Thu, May 14, 5:01 AM
    • Greece's debt is not viable and the country's debt repayments to the ECB should be delayed, Greece's finance minister declared on Thursday.
    • "Over July-August the finance ministry will have to borrow €6.7B from our partners in one way or the other to repay bonds from the SMP program," said Yanis Varoufakis. "About €27B of those bonds are still left...and should be pushed back to the distant future."
    • Yesterday, data confirmed that Athens slipped back into recession in Q1. GDP fell 0.2% during the period, following a 0.4% contraction in Q4.
    • ETFs: GREK
    | 4 Comments
  • Mon, May 11, 2:39 AM
    • Tension is building ahead of a key meeting of eurozone finance ministers in Brussels today which will discuss Greek debt concerns, reforms and the likelihood of an imminent deal.
    • Although Greece seems to have enough money to meet Tuesday's deadline for the repayment of €750M to the IMF, the country is perilously close to running out of cash and defaulting on its debt.
    • The IMF is now working with national authorities in southeastern Europe on contingency plans for a Greek default.
    • Euro -0.3% to $1.1166.
    • ETFs: GREK
    | 3 Comments
  • Wed, May 6, 4:52 AM
    • Greece has made a €200M interest payment to the IMF that fell due on Wednesday, although concerns over its future continued to rattle European markets.
    • Athens faces another €750M repayment obligation to the IMF on May 12 and many commentators are struggling to see where the money is going to come from.
    • The cash-strapped country still remains in a deadlock with creditors over its next tranche of bailout funding.
    • ETFs: GREK
    | 3 Comments
  • Mon, May 4, 6:21 AM
    • Negotiations between Greece and its international lenders over reforms to unlock bailout aid have made headway and an agreement could be closer this month, a government official said on Sunday.
    • "There were very important steps made at the Brussels Group (talks) which bring an agreement nearer," the official said. "All sides aim for an agreement at a Brussels Group level within May."
    • Talks between Athens and the troika will resume on Monday and are expected to continue through Wednesday. Greece owes the next repayment of its debt package to the IMF on May 12.
    • ETFs: GREK -3.4% premarket
    | 3 Comments
  • Thu, Apr. 30, 2:52 AM
    • Moody's has slashed Greece's credit rating deeper into junk territory, lowering its government bond rating to 'Caa2' from 'Caa1' and assigning it a "negative" outlook.
    • The ratings agency said a balance of economic and financial risks in the country and upcoming debt repayments slanted it "to the downside."
    • Meanwhile, Bloomberg reports that Greece and its euro-area partners have agreed to pursue intensive negotiations which will begin today, targeting a preliminary deal by May 3 and a final accord by May 11.
    • ETFs: GREK
    | 6 Comments
  • Wed, Apr. 29, 6:02 AM
    • Greece is expected to present draft reform legislation to lenders today, government officials said, in a bid to show it is serious about securing its much-needed aid prior to a €1B loan repayment to the IMF next month.
    • Although the bill is not expected to offer major new concessions, it will include details on measures to tackle corruption, evasion and tax and public administration reforms.
    • ETFs: GREK
    | 24 Comments
  • Tue, Apr. 28, 2:39 AM
    • In his first major television interview since January, Greek PM Alexis Tsipras said on Tuesday he would have to resort to a popular referendum if lenders insisted on "unacceptable" demands, but was confident about striking a deal to avoid such a scenario.
    • Ruling out a default, Tsipras expects an agreement with creditors to happen by May 9, just three days before a €750M debt payment to the IMF is due.
    • ETFs: GREK
    | 2 Comments
  • Sun, Apr. 26, 10:45 AM
    • The finance ministers of Slovenia and Germany on Saturday acknowledged for the first time that they are considering plans on what to do if a Greek deal is not reached by the end of June, breaking their long-held stance of insisting that the country must stay in the eurozone.
    • The issue of a "Plan B" was raised during Friday's Eurogroup meeting in Riga, where Athens was strongly criticized for delaying the list of reforms needed to unlock its next round of funding.
    • ETFs: GREK
    | 55 Comments
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GREK Description
The Global X FTSE Greece 20 ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE/ATHEX 20 Capped Index.
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Country: Greece
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