Ezentis, formerly Avanzit and Radiotrónica, is once again facing serious financial problems that threaten its viability. The company has asked the Sociedad Estatal de Participaciones Industriales (SEPI) for help on the verge of the end of the public business rescue fund. The energy and telecommunications infrastructure installation company has confirmed to the CNMV that it has requested 70 million euros in public money. The aim is to recover the group’s…
Yiannis Mouzakis via Macropolis | As Greece heads into snap national polls on July 7, it is beyond doubt that there has been a substantial shift in Greek voters’ views and preferences, which translated into a strong rejection of Syriza across society.
Yiannis Mouzakis via Macropolis | The tone of the day is celebratory for some. After eight years, myriad Eurogroup meetings that lasted until the early morning hours and hundreds of billion euros in loans, the eurozone is probably happy that it doesn’t have to spend any more time, energy and money on this small country at the corner of Europe that represents 2 percent of the total eurozone economy.
Yiannis Mouzakis via Macropolis | As Greece stands on the cusp of exiting the third, and final, of its painful bailouts, there is a discussion about the terms under which it is exiting and how they compare to the conditions that were on offer the last time the country was close to the MoU finishing line, about four years ago. Examining the two cases is actually a useful exercise – not just for Greek crisis veterans.
Yiannis Mouzakis via Macropolis | Greece’s economic collapse in 2010-2013 has become legendary. The country had already been hit hard by the global financial crisis in 2009, when it posted a sharp GDP drop of -4.3 percent. This set the stage for what would become the deepest economic contraction of a developed country in history. But would the implementation of structural reforms have helped alleviate this situation?
Yiannis Mouzakis via Macropolis | The Cypriot experience makes it abundantly clear that Greece’s only chance of returning to any kind of normality can be found at the end of its bailout programme.
In an internal report, the IMF has confessed to errors linked to the bailouts in which it participated during the euro crisis, according to what Ambrose Evans-Prichard tells us. Just what the euro needed: explicit recognition, in black and white, that nothing could be done about the “infamy of competitive devaluation.”