Tsipras has already taken the decision to miss the €1.6 billion IMF payment due June 30 and the €3.5 billion ECB payment that falls on July 20, while falsely telling Greek citizens that they have a say in this momentous choice.
Read more...The ECB has decided to lower the boom on Greece.
Read more...At 1:00 AM in Athens on Saturday morning, Greek prime minister Alex Tsipras announced that Greece would hold a referendum on July 5 on whether to accept the terms provided by the creditors in order for Greece to obtain €7.2 billion in “bailout” funds as the final part of a loan package provided to Greece in 2012.
The bailout in fact expires on June 30. It is too late for Greek voters to have any say on the Greek government’s posture in the negotiations. So what was this ploy meant to achieve?
Read more...Why structural reforms will not ward off deflation in Europe.
Read more...Negotiations with Greece remain fraught. Only a narrow path has been opened to getting a deal done, and it is far too easy for the parties, for reasons good and bad, to stray from it.
Read more...More details on the Greece proposal to its creditors.
Read more...How modest homes in some of Scotland’s poorest areas became prolific ‘company factories’, and how those companies were used in a giant Moldovan bank fraud
Read more...Greek government officials are preparing plans that would cross Syriza’s famed red lines in order to avert a default. Will Tsipras capitulate?
Read more...An analysis of possible Russian pipelines in Europe as strategic bargaining chips.
Read more...A Eurogroup meeting ended if anything with Greece and its creditors even more alienated from each other.
Read more...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...The Bank of Greece submitted a required report on monetary policy to the Greek Parliament and the Cabinet this morning. The English language version of the press release shows that it says, in stark terms, that failure to reach a pact with Greece’s creditors will lead to a Grexit and likely a departure from the European Union.
Read more...Economics, law and politics are all crucial to the story of Greece, but in the moment of default or Grexit they take a back seat to something far more important: organizational capacity.
Read more...Both sides in the Greece/creditor negotiations have said they have reached the limits of what they are prepared to give.
Read more...Bill Black shreds a remarkably rancid anti-Greek screed.
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