BANKS
For Greek banks, it’s business as unusual
ATHENS | July 23, 2015 | By Jens Bastian via MacroPolis | Now that the rather bizarrely termed “bank holiday” has come to an end in Greece after three weeks – although domestic and external capital controls – continue, it is appropriate to take stock of the situation and inquire where do we go from here.
Greek banks open today
MADRID | July 20, 2015 | By JP Marín Arrese | Emergency loans to ensure Greece pays back its sovereign commitments in the coming weeks might fail to save it from the dire financial collapse it faces.
Is the Greek Bailout Too Severe?
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.
Greek banks in intensive care: What lies ahead?
ATHENS | July 15, 2015 | By Manos Giakoumis via MacroPolis | Among the measures the Greek government has committed to legislate by July 22, according to the Euro Summit statement is the transposition of the Bank Recovery and Resolution Directive (BRRD).
What Icelandic business practices can (possibly) tell us about China
LONDON | July 13, 2015 | By Sigrún Davídsdóttir | Many controlling shareholders in China have pledged shares as collateral for bank loans – this was a common practice in Iceland up to the October 2008 banking collapse. Now this practice seems to be causing share trading suspensions in China.
UBP on Greek crisis: “There may be positive and negative surprises”
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
Greece’s temporary suspension from Euroland
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.
Greek debt restructuring: the mother of all battles
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.
Greece fails to know what it voted for
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.