Greece

Greece is on track to receive additional funds, but they won't last long.


For investors, the most important thing about the successful review of Greece's implementation of last year's agreement is that it effectively removes it from the list of potential disruptive factors in the coming quarters.  There will be no repeat of last year's drama.

Assuming Greece resolves a few outstanding issues in the next few days, it will be given roughly 7.5 bln euros next month and another three bln euros over the summer.  The funds will be in Greece's hands for the shortest of periods.