One of the main reasons that Alexis Tsipras wanted to hold elections as soon as possible after agreeing the third bailout in August was that it gave him the best chance of obtaining a fresh mandate before the impact of the latest set of fiscal measures was felt by the average voter.
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”.
Jens Bastian via Macropolis | The 49 prior and pending actions that have to be adopted by the Greek government by mid-October in order for urgently needed financial assistance to be released are a work in progress taking place under severe time constraints.
Nick Malkoutzis via Macropolis | The nexus of Greece’s most challenging problems, and perhaps the ones that will make or break the current government, were indirectly highlighted by Prime Minister Alexis Tsipras last week.
HowMuch.net | The countries with the highest debt-to-GDP ratios are Japan (230%), Greece (177%), Lebanon (134%), Jamaica (133%), Italy (132%), and Portugal (130%). This isn’t necessarily a huge problem. As long as countries are using borrowed funds to successfully stimulate their economies, they will be able to pay back their debts on time.
Yiannis Mouzakis via Macropolis | The head of the European Stability Mechanism (ESM) Klaus Regling leads an organisation that in its previous form as the European Financial Stability Fund (EFSF), issued loans of 17.7 billion euros to Ireland, 26 billion euros to Portugal and just under 131 billion to Greece.
ATHENS | Nick Malkoutzis via Macropolis | The September 20 election, the second this year, has probably generated more questions about Greece’s political future and how stable it will be than it has answered. Repetition, it seems, has failed to provide clarity.
ATHENS | By Nick Malkoutzis via Macropolis | By working with the Independent Greeks, Alexis Tsipras has taken a sledgehammer to the hopes of those who thought he might seek a more progressive alliance this time.
ATHENS | By Nick Malkoutzis via MacroPolis | Working out how Alexis Tsipras went from anti-austerity crusader to comfortably winning an election while promising to implement the third bailout, and in the process turning a resounding “No” in the July referendum to a humiliating “Yes” a week later, is something that political scientists will study for years to come.
LONDON | Barclays | Despite this clear victory and positive status quo, a number of key questions remain for the post-election era: Will the quarterly targets be met as the macroeconomic outlook worsens? Will the ECB reintroduce the waiver on GGBs and include them in the PSPP programme?