MADRID| Sean Duffy | Markets likely to be turbulent today as problems mount in intractable Greek negotiations.
ATHENS | By Yiannis Mouzakis via MacroPolis | It’s less than three weeks since the Greek government was elected and its Finance Minister Yanis Varoufakis has just taken part in his first Eurogroup – an experience that some of his predecessors have described as traumatic. Yet, a surprisingly large number of people appear convinced that Greece is heading for a showdown with the eurozone and may be counting its last weeks in the single currency.
MADRID | By JP Marín Arrese | By taking pre-emptive action against Greece, Draghi is behaving like the Nottingham Sheriff ruthlessly enforcing law and order according to Berlin rules. He was forced to act only by the end of this month. Taking on his own the task of imposing a 7-day ultimatum to Tsipras, he has shattered his neutral stance as a monetary policymaker. Yet, his move might backfire should Greece refuse caving in to pressure. After all, it has little to lose.
By Jens Bastian via MacroPolis | The parliamentary majority achieved by the SYRIZA-led coalition government following the 25 January elections constitutes a strong political mandate in mathematical terms. Among one of the many immediate challenges facing the new administration is trying to translate its numerical advantage into a majority of support among Greek citizens, including those who did not vote for the senior coalition party.
MADRID | By JP Marín Arrese | Attempts to convince Tsipras and his colleagues to call off their open mutiny against the discipline imposed under the Greek bailout seem to be doomed. The Greeks bet on a strategy that forces European partners to cave in, should the prospect of huge turmoil materialise. After all, they are fully aware that Greece will prove unable to repay its debt unless it grows at 7% rate for the coming 30 years.
MADRID | By Sean Duffy | Today is a massive day for the euro zone. The outcome of negotiations between Greek politicans and European bosses will be closely monitored by markets and euro zone partners alike. With Greek banks under pressure, a deal needs to be agreed soon.