The Corner | July 13, 2015 | After all-night talks in Brussels to reach a third bailout loan for Greece, a unanimous agreement was reached, European Council President Donald Tusk said. “It’s a good step to rebuild confidence,” IMF head Christine Lagarde said as she emerged from the meeting.
July 10, 2015 | By Patrice Gautry (UBP) | With the Greeks returning a “No” vote in Sunday’s referendum, the country has moved one step closer towards leaving the eurozone, or “Grexit”. However, Grexit is not automatic and many scenarios may develop, depending on the ECB’s attitude and political developments during the upcoming negotiations
PARIS | July 9, 2015 | By Francesco Saraceno | I have mixed feelings about the Oxi victory in Greece. The choice was between two evils: slow death by more of the same (the Troika plan), or a roller-coaster ride that has a high chance of ending catastrophically for Greece and for the EMU. I would have voted no, were I Greek, but not joyfully.
The Corner | July 9, 2015 | Athens should make a formal request of a third aid programme with a detailed reforms agenda today. Some analysts say an agreement with its creditors is not out of reach but that a Grexit is unavoidable. Others believe in Mr Tsipras’ determination to fix things and stay in the club for everyone’s sake.
LONDON | July 9, 2015 | UBS | At one simplistic level the UK budget contained only ‘small’ news, with the net borrowing forecasts not changing too much. But the reality was this was a budget with a huge number of important announcements. For one, it reduced the near-term pace of fiscal consolidation. For another, it spelt out how the government intends to reduce the size of the welfare state.
MADRID | July 7, 2015 | By JP Marín Arrese | Taking a shot at sorting out some kind of Grexit to solve the current mess seems unavoidable. Despite the efforts both parties have said they are ready to make to try to keep Greece on board, there is little chance of reaching an agreement in time. Temporary suspension from the eurozone might turn out to be the only plausible answer.
BRUSSELS | July 7, 2015 | By Alexandre Mato | When euro leaders and their finance ministers meet with the Greek government later today for a fresh round of negotiations to agree on a new economic assistance programme, the debt issue will still be the mother of all battles. Over the last few days, some economists in Brussels have gathered together ideas for putting Hellenic public finances in order.
ATHENS | July 6, 2015 | By Nick Malkoutzis via MacroPolis | Almost 11 years ago today, tens of thousands of Greeks poured on to the streets in harmonious celebration of the national team’s Euro 2004 victory. That was another decade, another time, another world. Today, Greeks have little to celebrate and much that divides them.
MADRID | July 6, 2015 | By J.P. Marin-Arrese | As people gathered last night in Syntagma, hailing the crushing victory in the referendum, few seemed aware of its tremendous consequences. Today, as banks remain closed and no cash is available, they will get a nasty taste of what remains at stake for them.
PARIS | July 5, 2015 | By Francesco Saraceno | I have been silent on Greece, because scores of excellent economists from all sides commented at length and in real time on the developments of negotiation, and most has been said. But last week has transformed into a certainty what had been a fear since the beginning. The Troika, backed by the quasi totality of EU governments, were not interested in finding a solution which would allow Greece to recover while embarking on a fiscally sustainable path. No, they were interested in a complete and public defeat of the “radical” Greek government. a