As Bloomberg reports, Greece is still having trouble coming to terms with a bailout package:
In fact, Greece isn't anywhere near a position that creditors want to see in order to feel comfortable lending the country more money:
Greece has avoided complete economic collapse via a bailout involving the European Stability Mechanism, the European Commission, the European Central Bank and the IMF since 2010. The country is now trying to renegotiate the terms of that loan, which it is having major issues repaying due to ongoing economic turmoil.
Its creditors are open to more favorable terms, but only if major measures are first taken to sustainably shore up Greece's finances.
The Global X MSCI Greece ETF ( NYSE:GREK ) fell $0.16 (-2.02%) in premarket trading Monday. Year-to-date, GREK has declined -1.03%, versus a 2.07% rise in the benchmark S&P 500 index during the same period.
GREK currently has an ETF Daily News SMART Grade of B (Buy) , and is ranked #67 of 91 ETFs in the European Equities ETFs category.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
