No Picture

If Greece goes away: costs are manageable, contagion is not

LONDON | The direct costs of a Greek default and exit would appear controllable after all, analysts at Barclays Capital noted in a report to investors on Friday. But for all the sense markets are supposed to instil into State finances and economic policies, as their champions tirelessly tell everybody, emotion accounts for an awful lot. Let's say, for instance, that yes-all right, Greece's new government would be formed by…


Grexit: The Greek exit would cost France and Germany dear

LONDON | If you haven’t heard of it, you have simply not been on planet Earth: Grexit was the trendiest word this week, but for the wrong reasons. Would Greece exit the euro zone, shuttering prospects of an approaching global economic recovery? The matter was not whether the Hellenic nation could stand the heat coming from the European Commission, the European Central Bank and the International Monetary Fund, which assured the…