Greece will probably leave the euro as soon as next month as the government runs out of cash and European institutions fail to lend more to the nation, John Taylor of hedge fund FX Concepts LLC said to Bloomberg.
Greece raised 1.3 billion euros ($1.7 billion) of 26-week Treasury bills today at a yield of 4.69 percent, compared to 4.55 percent at the previous auction on April 10, according to the Athens-based Public Debt Management Agency. Investors bid for 2.6 times the securities offered.
The nation’s political leaders are meeting for a second day to try to form a government after New Democracy’s Antonis Samaras, who won the most seats in Parliament, said he couldn’t forge a coalition. Another election may be held in mid-June if politicians fail to form a governing coalition.