I find your lack of faith disturbing
The ‘Greece’ section of the Bundesbank’s latest report on the German economy must be read to be believed (emphasis ours):Current developments in Greece are extremely worrying....
Greek funny money, redux
First it was John Dizard arguing that Greece could issue scrip and have this circulate as “money” during a funding stand-off with the Troika — without getting...
Greece – don’t call it a backtrack…
Real games of chicken are about fundamentally misaligned incentives.“I like to play poker…”So, at the weekend’s G8, Europe’s voice was heard, and it...
Greece: when the drugs run out
Beneath the political stasis — another sign of a sharp turn for the worse in Greece’s liquidity crisis.The country’s pharmacies are owed €500m by the state-backed...
Fiscal credibility vs democracy
Last November John Hempton wrote an amusing post arguing that Ben Bernanke’s problem was that the Fed’s credibility was too high, thus creating a liquidity trap, and...
The foreign-law distinction, encore
Holding foreign-law bonds in preference to domestic-law in peripheral eurozone sovereigns: such a cliché now, they built the Greek PSI around it.It also made it possible (though...
‘Your differences are small compared to the size of your debt to your country’
That’s our (no doubt dodgy it was: fixed) paraphrasing of President Karolos Papoulias of Greece, during Sunday’s talks with the leaders of the New Democrats, PASOK,...
Oh, Greek moratoria (redux)
EFSF will make €5.2bn payment to Greece – ReutersAlthough €4.2bn will be disbursed on 10 May and the rest has been held back because Greece doesn’t need it until June,...
Oh, Greek moratoria
*Tsipras says must be moratorium on Greece debt paymentsThat, earlier on Tuesday, was Alexis Tsipras – head of Syriza and current owner of the mandate to form a coalition...
‘Loosening’ the memorandum
*VENIZELOS SAYS MUST HAVE TALKS WITH EU PARTNERS ON TERMS*VENIZELOS SAYS MUST EXTEND TIME OF PROGRAM TO END 2015*VENIZELOS SAYS GREEKS WANT TO REMAIN IN THE EUROAnd on that note…...
