Greece no closer to new deal
MADRID| Sean Duffy | Markets likely to be turbulent today as problems mount in intractable Greek negotiations.
In Europe
Greece talks set to go to the wire
Madrid| JP Marin-Arrese| There is little chance that the Eurogroup will broker a way out of the Greek conundrum later today. As time runs out in the nail-biting tussle between Greece and its creditors, investors may start to lose their nerve. Even if they gauge that a potential Grexit would bring about limited damage for other partners, no one can exclude the possibility of turmoil erupting in the markets.
Greece: Everybody be cool
ATHENS | By Yiannis Mouzakis via MacroPolis | It’s less than three weeks since the Greek government was elected and its Finance Minister Yanis Varoufakis has just taken part in his first Eurogroup – an experience that some of his predecessors have described as traumatic. Yet, a surprisingly large number of people appear convinced that Greece is heading for a showdown with the eurozone and may be counting its last weeks in the single currency.
Will they stay or will they go?
MADRID| Sean Duffy | Nobody knows how the Greece debt negotiations will turn out, but aren´t we all getting a little tired of the saga?
The EU finally delivers some growth
MADRID | The Corner | EU posts marginal growth stats, but the figures are indicative of slow pace of recovery.
Swedish central bank: “The sins of the father”
SAO PAULO | By Marcus Nunes via Historinhas | And now Sweden joins the “below zero” club and will also join the QE club. According to Riksbank Governor Ingves: “We are prepared to make monetary policy more expansionary,” Governor Stefan Ingves said at a press conference. The bank doesn’t see a lower limit on rates and can buy as much in government bonds as is “appropriate,” he said. It´s never too late, but it is worth remembering all the arguments put forth by Lars Svensson before he quit the Board in disgust.
The Greek government imbroglio
MADRID | JP Marín Arrese | The markets have shown utter dismay at the dim prospects of the euro zone striking a deal that would cut short uncertainties over the current Greek imbroglio. Tsipras seems ready to fight until the very end in a bid to undermine his European partners. As the Brussels bureaucracy works feverishly to broker an honourable truce, Tsipras appears increasingly reluctant to offer anything short of unconditional surrender. His blunt refusal of any rescue linked to the current conditions is eroding confidence in the Greek government’s political wisdom, its brand of refined brinkmanship seems unlikely to bring Athens to a less intractable stance. A devastating crisis may loom ahead should the sides fail to yield ground in the current tug-of-war.
Aena IPO likely to lead sentiment for Spanish markets
MADRID | Sean Duffy | The sale of 49% of Spanish airport group will be in focus from 12 onwards today.
The alternative of (tax-based) capital controls for Greece
By Marios Zachariadis via MacroPolis | At first glance, the potentially catastrophic consequences of Grexit on the rest of the Eurozone provide the Greek government with an important bargaining chip. However, the Greek government should take into consideration that Grexit is not the only possible alternative in case an agreement with the rest of the EZ cannot be reached soon.
HSBC scandal bad timing for Juncker
MADRDD | Sean Duffy | Markets are likely to remain volatile in the week ahead as investors await indication on Greek standoff.