The EU is dead: The Grexit crisis has laid bare Europe’s inability to rescue itself June 21, 2015 Jumping the shark” is one of my favourite American idioms. It was first used in the context of a particularly notorious episode of the 1970s classic US television show Happy Days, which centred on the unlikely but enduring friendship between a young, square, 1950s good guy, Richie Cunningham, and his cool, but from-the-wrong-side-of-the-tracks ally Fonzie. [...]
As they sign a gas pipeline deal, should Europe fear closer links between Greece and Russia? June 21, 2015 John Lough, associate fellow in Chatham House’s Russia and Eurasia programme, says Yes. Russia wants to build the gas pipeline to reduce its dependency on gas transit through Ukraine – around 50 per cent of its gas exports to Europe pass through Ukraine. Greece is assisting Russia in its endeavour, and contributing to weakening Ukraine’s [...]
Greece’s creditors eye up €18bn in rescue funds and six-month bailout extensions June 21, 2015 Greece’s creditors are eyeing up a deal to save its membership in the Euro, including extending its bailout by six months, offering future debt relief, and supplying up to €18bn (£13bn) in rescue funds. Read more: The key dates in the countdown to a Grexit The deal hinges, however, on Alexis Tsipras, the Greek Prime [...]
Grexit would leave Greece a failed state says former US Treasury secretary Larry Summers June 21, 2015 Greece will likely become a failed state if it leaves the Euro, according to a former US treasury secretary. Writing in the Financial Times, Lawrence (Larry) Summers said it now “appeared likely” that Greece would financially separate from Europe, and that this would be the least beneficial result for both parties. Read more: Tsipras puts [...]
Grexit: Tsipras puts deal proposals to Merkel, Hollande and Juncker to avoid default deadline June 21, 2015 The Greek Prime Minister Alexis Tsipras has presented new proposals to European leaders for a deal on debt repayments to avoid the country defaulting. Tsipras put the proposals to German Chancellor Angela Merkel, French President Francois Hollande and EU Commission President Jean-Claude Juncker in a phone call this afternoon, ahead of emergency talks due to [...]
Grexit: Not reaching a deal would be “insane”, says National Bank of Greece boss Louka Katseli June 21, 2015 The boss of Greece’s biggest bank has said it would be “insane” for the country not to reach a deal at emergency talks due to be held tomorrow between the Greek government and European leaders. Louka Katseli, the chair of the National Bank of Greece (BNG), told the BBC "I think sanity will prevail and [...]
Greek minister says that Greece will try to bring more to the table in debt talks June 20, 2015 Greece will try to put new proposals to creditors in its ongoing negotiations for a debt deal, a Greek minister has said. Although time is running out for leaders to break the deadlock between Greece and its creditors, the country's state minister has said that Alexis Tsipras will likely speak with European Commission chief Jean-Claude [...]
Angela Merkel piles the pressure on Greece as she urges debt deal June 20, 2015 German chancellor Angela Merkel has said that Greece must make a deal with its creditors before Monday's emergency EU summit. Urging the Greek government to come to some agreement, she warned that a deal could not be made on Monday without it. Her intervention comes less than two weeks before the deadline for Greece's June [...]
Greece crisis: European Central Bank offers Greece another liquidity lifeline June 19, 2015 Stocks in Athens were up as much as two per cent this afternoon, after the European Central Bank (ECB) offered a lifeline to Greece this afternoon, increasing the amount of emergency liquidity its banks can draw on for the second time this week. Read more: Countdown to Grexit: The key dates that could save Greece before [...]
How will a Grexit affect the euro? Analysts give their view June 19, 2015 As negotiators from the International Monetary Fund, the European Central Bank and just about every country with an interest try to maintain civil tongues over negotiating tables, things are looking increasingly bleak for Greece's continued participation in the euro. Read more: Countdown to Grexit – the key dates that could save Greece And yet, so [...]