LONDON | Why the Troika and the EU member states find it so difficult to trust Greece.
LONDON | By Sigrún Davídsdóttir | Why do the inhabitants of an EU country prefer to keep cash amounting to ca. 6% of GDP hidden at home? Badly burnt after the banking collapse in March 2013 Cypriots neither trust their government nor banks to keep their money safe.
By Jens Bastian via MacroPolis | The parliamentary majority achieved by the SYRIZA-led coalition government following the 25 January elections constitutes a strong political mandate in mathematical terms. Among one of the many immediate challenges facing the new administration is trying to translate its numerical advantage into a majority of support among Greek citizens, including those who did not vote for the senior coalition party.
MADRID | By Álex García.
By Christian Odendahl via Macropolis|With the new government in Greece preparing for the negotiations with the troika, the German position in particular has been a topic of debate, both in Greece and on markets.
By Benjamin Cole via Historinhas | The unemployment in Greece is 25 percent. The Greek economy has shrunk by 29% since 2009. That is a full-blown economic depression, an outright failure of macroeconomic policy.
MADRID | By JP Marín Arrese | The landslide victory snatched by leftwing Syriza plus the sizeable score recorded by parties opposed to the austerity measures represents a challenge to Europe’s orthodoxy in addressing real adjustment. Greek voters have voiced their rebuke to policies encompassing significant sacrifices but failing to redress a dismal economic record. Scrapping key elements of the welfare state and imposing harsh conditions on citizens has resulted in widespread poverty. In addition, the sentiment the troika was running the country has infuriated many of those going to the polls on Sunday. For all the popular support received, Tsipras faces a formidable challenge ahead in delivering his election promises.
MADRID | By Sean Duffy | Victory for the left-wing party of Alexis Tsipras has brought the European project into unchartered territory. The result has given the new Government a mandate for change, but the game of poker may be just beginning.
By Gabriel Sterne via MacroPolis | It is easier to write down big questions on Greece’s future; harder to answer them: (1) Will Syriza win with an overall majority?; (2) Will a new programme be agreed in time?; (3) To what extent will it stay on track?; (4) How much additional debt relief and financing will the Troika give to Greece, and in what circumstances?; (5) If and when the wheels come off the programme, is an exit inevitable? Would it be managed or chaotic? One thing we can be sure about though. The scene is set for a political showdown, the likes of which the Euro-crisis has not yet seen.