Jens Bastian via Macropolis | For some Greece observers and various China analysts the decision by the Greek government to join the 17+1 network came as a surprise. They shouldn’t have been taken aback. What is rather astonishing is the muted response by Brussels, Berlin and Washington.
Dimitris Smyrnakis via Macropolis | Following January’s five-year bond issuance, which raised 2.5 billion, along with Moody’s upgrading the country’s sovereign credit rating to B3 from B1 and Fitch’s confirming its own rating at BB-, last Tuesday Greece issued its first 10-year bond since the country entered the debt crisis nine years ago.
The French say: “The absent are always in the wrong.” The saying is quite correct, at least as far as the unification process in Europe is concerned. Greece has been a member of the European Union for almost four decades but, sadly, the parochialism of the Greek political elite (bar a few exceptions) has been a main feature of the country’s participation in the project.
Jens Bastian | With Merkel’s gradual retreat from German politics, a new sense of political timing is set in motion across capital cities in Europe. How will Athens react to the gradual changing of the guards in Berlin? While much air time and social media is being consumed with domestic political quarrels in Greece, both government representatives and opposition parties will be well-advised to look closely at the next developments in Germany.
Ioannis Glinavos via Macropolis | Those at the receiving end of austerity policies and fiscal consolidation measures aimed at stabilizing the eurozone during and after the debt crisis of 2010 have sought redress in the courts, hoping to find an argument that can convince the law to come to their assistance.
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.
Ioannis Glinavos via Macropolis | Italy’s political crisis and incoming government brings the European Central Bank back to making unpleasant choices as it tries to balance market risks with charting a path out of never-ending stimulus and crisis response measures.
Ioannis Glinavos via Macropolis | The creation of a populist government in Italy has sent shivers down the spines of those who have been following developments in Greece since 2015. Indeed, there are enough similarities to give rise to concern. The following discussion offers three key reasons why Italy (and Europe by extension) is about to head into some serious trouble.
At last, the Greek economy seems to be in a much more solid position. Greece once again saw positive growth rates in 2017 and it’s expected to maintain a growth rate of around 2% over the next two years. In spite of this, the financial sustainability of Greece’s public sector remains in doubt.