The alarming part of the deadlock between Greece and its lenders is the lack of a plan on the creditor side to develop a Plan B, a sort of mirror image of the Greek government’s claim that its has bet everything on securing a favorable agreement.
Read more...Greece’s creditors are not pleased, and perhaps more important, the Greek government has lost one of its few remaining advocates, Jean-Claude Juncker of the European Commission. The Eurocrats are finally waking up to the degree to which the two sides have talking past each other. The implication is that it is far less likely than they had believed.
Read more...Varoufakis was part of a panel discussion on the future of Greece within the EU last night, organised by the IMK.
Read more...Greece has already offered to continue with a program of significant austerity. No wonder the creditors are close to agreeing to that part of the government’s proposal.
Read more...Greece’s creditors met to agree on a last-ditch offer. But it turns out “last ditch” reaffirmed their current position and removed IMF’s debt relief proposal.
Read more...Le Monde published a defiant op ed by Alex Tsipras over the weekend. The wee problem is that Greece is well past the point where political appeals will work.
Read more...Many fear that a Greek default would lead voters elsewhere in Europe to favour default over austerity. In contrast, this column argues that it is more likely to have the opposite effect
Read more...An integrated regulatory approach with a common leverage ratio for debt-based financing across the financial system would prevent bubbles
Read more...Central banks think they’re omnipotent – until they aren’t.
Read more...The noose continues to tighten on Greece.
Read more...Yves here. I’m quite interested in reader reactions to this scheme. My big reservation is that the amount of the scrip devised by the authors, the TCC, has to be limited to the an amount of discount of future tax payments that is deemed to be credible. Given that Bill Mitchell has estimated that Greece […]
Read more...An overview of the history of the economic dispute between the IMF and the Eurozone creditors over Greece, and what that means for the ongoing negotiations.
Read more...Paul Krugman’s latest column fingers some valid targets but lets way too many other equally deserving ones off.
Read more...Figures confirm the pattern already observed last month, with a marked improvement in the primary balance achieved mostly via expenditure cuts and a more limited improvement in revenues.
Read more...Wall Street working up to another tantrum to head off a rate hike from the Fed. Will it work again?
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