MADRID | June 18, 2015 | By Luis Martí | The negotiating tactics of the Greek government can only be understood against the backdrop of an impossible set of electoral promises –impossible, that is, unless the government gained access to an unlimited inflow of financial resources from abroad at no charge. This not being the case, President Tsipras has to act within a constrained framework.
ATHENS | June 15, 2015 | By Nick Malkoutzis via MacroPolis | Greece’s negotiations with its lenders over the last few days have been more like a ride on the ghost train than a roller coaster, producing moments of sheer panic punctuated by brief spells that allow the palpitations to subside.
LONDON | June 15, 2015 | Barclays | The banking system has lost nearly 23% of its deposits since November 2014.
ATHENS | June 12, 2015 | By Yiannis Mouzakis via MacroPolis | Alexis Tsipras’s government had many people scratching their heads and some say even officials fuming with its approach and negotiating tactics since it came to power.
ATHENS | June 10, 2015 | By Jens Bastian via MacroPolis | Greece’s negotiations with its international creditors have now entered their eighth month, with a possible interim agreement due to be discussed in Brussels between Prime Minister Alexis Tsipras, German Chancellor Angela Merkel and French President Francois Hollande.
LONDON | June 10, 2015 | By Antonio Garcia Pascual and Nikolaos Sgouropoulos (Barclays) | We think there are at least two critical issues outstanding: 1) agreeing on credible fiscal measures to achieve a primary surplus of c. 1% of GDP; and 2) fast-track pension reforms to reduce costs and increase the effective retirement age (currently 59).
MADRID | June 9, 2015 | By JP Marín Arrese | From the very moment Ms Merkel vowed to put an end to the Greek crisis, she filled the Hellenic sails with hopes of snatching extra concessions. Athens seems well aware that the German Chancellor is under heavy pressure to secure a deal before the G-7 meeting, and that it will profit from this unexpected manna. It will play these winning cards until they become obsolete.
June 8, 2015 | Barclays | After the Greek government failed to reach an agreement with the institutions last week, positions are still far apart and it is very unclear what PM Tsipras wants to achieve, while he is confronted with disagreements within his party. Failure to agree this week would likely make it difficult to have a smooth resolution before the end of June when the programme expires.
The Corner | June 5, 2015 | The eurozone needs its own treasury over and above national budgets, one that would not come at the expense of fiscal discipline at the national level. That is the radical shift advocated by Sigmar Gabriel and Emmanuel Macron, move that has been strongly resisted by Merkel throughout the crisis.
ATHENS | June 4, 2015 | By Nick Malkoutzis via MacroPolis | As Greece’s lenders prepare to present Prime Minister Alexis Tsipras with their final proposal, there is one question that everyone wants the answer to: Will Syriza MPs support the deal?