Yiannis Mouzakis via Macropolis | The IMF formally announced last week that it changed the policy of exceptional access criteria, in essence reversing a highly political decision of the Fund back in 2010, a decision that saved the euro and paved the path for half a decade of economic devastation that sealed Greece’s fate.
Nick Malkoutzis via Macropolis | There are probably a number of officials in European capitals, and perhaps Washington, who have been scratching their heads over the past few days after the Greek government indicated that it would prefer the International Monetary Fund not to be involved in the country’s bailout.
The Agora via Macropolis | Two of the key participants in Greece’s financing programme, the European Stability Mechanism’s Klaus Regling and the head of the Eurogroup Working Group Thomas Wieser, gave interviews to two Greek Sunday newspapers in which they covered a wide range of issues relating to the latest developments in Greece.
Athens may need no further than €10 billion to recapitalise its main financial institutions. These are the funds in the Hellenic Financial Stability Fund to cover the sector’s requirements. Looks like in Brussels there is a broader consensus that the figures revealed by the ECB are “encouraging”.
What is the meaning of all this dynamic of successive bankruptcies and bailouts?
A German company is granted the concession to run 14 Greek airports in the first privatisation process signed by Syriza.
Germany’s central bank calls for more supervision of the adjustments and reforms in Greece, while the IMF casts doubts over the sustainability of Greek debt.
The third bailout deal will have to be voted on in the Greek Parliament on Thursday and approved by the Eurogroup on Friday.
The benefits tend to be larger than the expenses, even if Greece does not repay any of its debts.
John Bruton | If Greeks themselves do not trust their own government and banks with their money, it is difficult to expect the taxpayers of other countries to do so. Yet that is what critics of the third Greek bailout seem to expect.