TD Direct Investing sees Greek volatility
Darren Hepworth, global trading director at UK execution only broker TD Direct Investing, has said that the latest stage in the discussion around Greece’s debts is causing uncertainty and volatility in markets, but is also leading to misplaced optimism about the options for the country via a so called ‘Grexit’ from the eurozone.
“The threat of a Greek exit, the potential for which has been known since 2010, is proving to be a major cause of volatility as traders and investors wrestle with uncertainty in the markets.”
“Our global analysts believe the view that a departure could be good for both Greece and the EU is deeply misguided as precedent could then be set for the other countries experiencing difficulties (and there is the potential investors could trade based on worst case scenario – thus exacerbating the issue). A number of economists already deem the eurozone as a sub-optimal currency and a Grexit could substantially worsen this problem.”
TD Direct Investing holds some £13bn in client assets on behalf of some 300,000 UK investors.