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.
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.
The Corner | July 6, 2015 | As the ECB decides whether to continue providing emergency liquidity assistance (ELA) to Greece this morning, former governing council member José Manuel González-Páramo finds it hard to believe the aid will be increased. A Grexit “is unlikely to happen,” he said on Spanish radio Onda Cero.
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
ATHENS | July 4, 2015 | By Yannis Mouzakis via MacroPolis | Here we are again, just over five years of the anniversary of the country’s first programme and more than 210 billion euros of financing later, Greece is about to hold the referendum that machinations and backroom dealings averted back in 2011.
MADRID | July 3, 2015 | By JP Marín Arrese | Tsipras’ strategy has been based on the wrong assumption EU leaders would cave in when confronted with the awesome prospect of the euro losing its irrevocable nature. But betting on such dangerous game theories, so dear to Mr Varoufakis, has created an appalling mess. Any desperate attempt to renew negotiations seems doomed until the referendum is held. Anything short of a ‘yes’ vote would plunge Greece into a dire situation.