greek creditors

Alexis Tsipras

Syriza’s capitulation to please Greek creditors

BRUSSELS | June 23, 2015 | By Alexandre MatoTax hikes and pension system cuts were the main measures offered by Athens to European Institutions and the IMF in order to reach an agreement over the second rescue programme. The €8 billion in savings and new revenues over the next two years were described as important or broad steps. But the proposals are bittersweet.

 


imbroglio

Better red than dead

MADRID | June 21, 2015 | By JP Marín Arrese | Bertrand Russell coined this famous phrase when the cold war nuclear escalation threatened the survival of the human race. A useful tip for intractable confrontations where sanguine sentiments lead conflicting sides to prefer collective ruin rather than reaching a compromise. The Greek imbroglio is a good example.


Map and compass

A roadmap to decode Greece negotiations

LONDON | June 10, 2015 | By Antonio Garcia Pascual and Nikolaos Sgouropoulos (Barclays) | We think there are at least two critical issues outstanding: 1) agreeing on credible fiscal measures to achieve a primary surplus of c. 1% of GDP; and 2) fast-track pension reforms to reduce costs and increase the effective retirement age (currently 59).