European stocks slide in anticipation of Eurogroup meeting outcome


eurogroup,grexitToday, the Eurogroup meeting continues, as Greece dialogues with the rest of her Eurozone counterparts in an attempt to reach a compromise.

Last week, European stocks reached seven-year highs and are seen to be retreating as European stocks slide slightly with traders, investors and stake holders patiently wait for the conclusion of this meeting. FTSE 100 down -0.1%; DAX lost -0.2%; CAC 40 indifferent and Euro Stoxx 50 down -0.2%.

The big question remains “will a compromise be reached?” On Sunday, Greece showed confidence about a potential deal, but insisted that the harsh bailout terms will have to be changed as it will not oblige to those conditions.

With Greece's current €240 billion bailout deal due to expire on 28 February, fears continue to grow of a potential Eurozone exit if conflict erupts with its Eurozone counterparts over the extention of its debt.

The newly elected Syriza party faces a dilemma as it risks loosing home support if it unsuccessfully negotiates for better terms with the rest of the Eurozone, being that many voted for Syriza based on their promises upon this particular issue. On the other hand, it cannot afford to be in conflict with its neighbors as this could lead to the much anticipated “Grexit”.

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