Monday June 1, 2020

Noonan’s complacency over Greece is ill-judged

Eurozone leaders meet in Brussels tomorrow with the fate of Greece, and perhaps of the currency zone itself, in their hands. Failure to reach an agreement tomorrow, or at least to signal that one can be reached in the coming days, would almost certai

21st June, 2015

Within weeks, even larger repayments are due to the European Central Bank. But without a new deal, Greece’s banks would likely have collapsed before default on those debts actually arises. Greek banks, bleeding billions of euros in deposit withdrawal in recent weeks, are only opening their doors tomorrow because the ECB approved an increase in emergency funding on Friday afternoon. There is an imminent threat of a run on the banks; if people think a...

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