At least one German believes a deal with Greece is possible – EU commissioner Guenter Oettinger says agreement could be reached by end of week June 1, 2015 Against a background of pessimism from everyone involved, there is one German official who believes a deal between Greece and its creditors is in sight. Guenter Oettinger, Germany's EU commissioner, said this morning a deal could be achieved this week. "We will need progress at the working group level, in order that we [...]
Greek leader resents way creditors have behaved June 1, 2015 Greek Prime Minister Alexis Tsipras launched a scathing tirade of criticism at the country’s creditors yesterday, accusing them of giving a false representation of negotiations and hitting out at their insistence that Greece stick to its austere path. “The lack of an agreement so far is not due to the supposed intransigent, uncompromising and incomprehensible [...]
With no deal on the cards, is the Eurozone too complacent about the risks Grexit poses? May 31, 2015 Guy Foster, group head of research at Brewin Dolphin, says Yes. It’s difficult to tell how complacent the Eurogroup really is about the risks of Grexit, as its rhetoric forms part of the negotiations. Both parties are citing a Grexit as their best alternative to a negotiated agreement. Their respective hands are strengthened as it [...]
Greek finance minister Yanis Varoufakis denies reports of resignation May 31, 2015 Yanis Varoufakis dismissed reports he will soon resign as finance minister as Greece scrambles to avoid defaulting on its loan repayments. Varoufakis took to Twitter to slam reports of his impending resignation as "grossly premature" and sounded weary of having to clarify his position for what he called "the umpteenth time". The possibility of a [...]
From Fifa and Greece to the rail strike and Queen’s Speech: Here’s what got us talking this week May 29, 2015 There was a speech. There was a protest. There were some strange-looking balloons. And rapidly receding in our memories, there was a bank holiday. Here's what got us talking this week 1. Fifa was in the news Commentators expressed but little surprise when a number of Fifa officials were arrested this week, but [...]
Grexit is “not inevitable”, says Moody’s May 29, 2015 Greece is likely to remain in the euro even if it defaults on a €300m repayment to the International Monetary Fund on 5 June, credit ratings giant Moody's said today. Although analysts have speculated over the likelidhood of a Greek exit from the Eurozone, today it would not happen automatically, according to the report, which [...]
Greece falls back into recession as IMF chief Christine Lagarde warns on Grexit May 29, 2015 New data published this morning has confirmed Greece plunged back into recession last quarter – just as International Monetary Fund (IMF) chief Christine Lagarde said this morning that a comprehensive deal with Greece to avoid it defaulting on loan repayments is "very unlikely… in the next few days". Read more: What happens if Greece defaults [...]
G7 Dresden meeting: Strange balloon protest and that awkward family photo aren’t the only things casting a shadow over the G7 meeting May 28, 2015 The G7 meeting is being overshadowed by fears of a Grexit… as well as a number of balloons with some of the world's most influential leaders on them. Protesters from the international group One released the balloons last night ahead of the Dresden meeting, which representatives from the US, UK, Canada, France, Italy, Japan [...]
Greek spokesman: Deal will “hopefully” be in place by Sunday May 28, 2015 Greece expects to have reached a deal “hopefully” as soon as Sunday. A team of negotiators from Athens has been locked in talks over its €320bn (£228bn) debt pile with its creditors the European Union, the European Central Bank and the IMF since February. It is not thought the deal will include the €20bn [...]
Greece’s creditors dismiss Prime Minister Alexis Tsipiras claim they’re close to drafting a deal May 27, 2015 Greece's creditors have poured cold water on the cash-strapped country's claim that the parties were nearing a deal which would pave the way for the additional funding it desperately needs. Greece's government has been locked into high stakes talks with its creditors the European Union, the European Central Bank and the IMF since February. And without [...]