April 8, 2015 | By Yannis Mouzakis via MacroPolis | Just as the five-year anniversary of Greece’s first EU/IMF programme approaches – and despite marked procrastination in a number of other fronts – Greece’s coalition set up a parliamentary committee to investigate the country’s bankruptcy and the signing of its two memorandums with the troika.
ATHENS | March 3, 2015 | By Nick Malkoutzis via MacroPolis | There was a defining moment in the recent election campaign. It wasn’t New Democracy’s decision to go full negative by running a campaign ad that suggested Armageddon was around the corner. Nor was it To Potami’s claim that it would unveil its plan for reaching an agreement with Greece’s lenders after the elections. Instead, it came on a mild Thursday night in Omonia Square.
ATHENS | By Nick Malkoutzis via MacroPolis | Is Friday’s agreement at the Eurogroup a good deal for Greece? In some respects it is but in more respects it is not. Above all, the four-month agreement leaves Greece walking an economic and political tightrope over the next four months without knowing what lies at the end of it.
ATHENS | By Nick Malkoutzis | Prime Minister Antonis Samaras has a habit of defending his government by saying that his aim is to make Greece “a normal European country.” Whatever he may mean by this and however genuine he may be in wanting Greece to recover from its long crisis, this is an infuriatingly patronising comment. Intentionally or not, it aligns Greece’s prime minister with all the cranks in Europe and Greece’s misinformed critics beyond who view the country as some kind of basket case.
MADRID | By JP Marín Arrese | As Greece plunges again into wild uncertainty, following a call for snap elections, once again the Eurozone shivers at the prospect of a full-fledged crisis. Even if the flight for safety has reduced the bund rates to fresh lows, no other economy has come under attack for the time being. But should Syriza emerge as the winning party in the January polls, the truce might be over.
ATHENS | By Yiannis Mouzakis via MacroPolis | With the coalition in Greece getting only 160 votes for its presidential candidate in the first ballot, falling short even of the most conservative estimate, based on the currently available information it seems that the number of deputies that will vote in favour in the third round on December 29th will not reach the minimum 180 required.
ATHENS | By Yiannis Mouzakis via MacroPolis | Since the eurozone crisis kicked off towards the end of 2009 in Greece there has been no other institution that has gained in prominence like the European Central Bank.
ATHENS | By Jens Bastian via MacroPolis | According to its Wikipedia article, Waiting for Godot by Irish writer Samuel Beckett is an absurdist play, in which two characters, Vladimir and Estragon, wait endlessly and in vain for the arrival of someone named Godot. The current situation in Athens has remarkable similarities with this classic piece of European literature.
ATHENS | By Yanis Varoufakis via Truman | Tim Geithner is now on the public record, confirming that which we have always known: In February 2010, clueless as to the Euro Crisis that was about to engulf them, Northern European leaders decided to crush Greece. Collectively to punish (against even the Geneva Convention) a nation for having gone bankrupt within a Eurozone whose architecture never took into consideration the possibility that a member-state could become insolvent.
ATHENS | By Manos Giakoumis via MacroPolis | Greek banks are always at the forefront of domestic market developments. Despite the strong rebound of 6.4 percent on Friday, their shares still recorded cumulative losses of 7.8 percent last week and 23.9 percent over the past three months. Concerns about the outcome of the upcoming comprehensive assessment European Central Bank are one of the key factors weighing on investors’ minds.