from Morning Bid with David Gaffen:

Failure to Communicate

July 1, 2015

Dionysus the Elder, ruler of Greek city-state Syracuse in the fourth century B.C., was one of the first to devalue currency by turning one drachma into two drachmas by decree when he got into trouble through excessive spending.

from Hugo Dixon:

Tsipras looks like he is crumbling

By Hugo Dixon
July 1, 2015

It looks like Alexis Tsipras is crumbling.

After the banks closed and public opinion started moving against him, the Greek prime minister seems desperate for a deal with his creditors. Athens has now defaulted to the International Monetary Fund, adding to the pressure. But it is not clear lenders will cut him any slack. They may prefer to deal with his successor.

from Breakingviews:

Hugo Dixon: Tsipras looks like he is crumbling

By Hugo Dixon
July 1, 2015

Hugo Dixon is Editor-at-Large, Reuters News. The opinions expressed are his own.

It looks like Alexis Tsipras is crumbling.

After the banks closed and public opinion started moving against him, the Greek prime minister seems desperate for a deal with his creditors. Athens has now defaulted to the International Monetary Fund, adding to the pressure. But it is not clear lenders will cut him any slack. They may prefer to deal with his successor.

from MacroScope:

Grexit polled probability strikes danger zone for the first time

June 30, 2015

Man walks by a bank in Athens, GreeceWhile Greece has been trapped in the clutches of an economic and sovereign debt crisis for half a decade, it has only been over the last month that the risk of leaving the euro has risen so dangerously high.

from Morning Bid with David Gaffen:

Dispelling Some Myths About the Greek Situation

June 30, 2015

We’re at the point now where most bets are off the table, or the ones that at least were on the table before the Greeks and the rest of Europe saw fit to walk away from one another are feeling some pain. It’s worth looking at a few of the myths that got us to this point, particularly as, in an age of Greenspan Puts, the Bernanke Helicopter, Mario-Whatever-It-Takes, and Abenomics, the prevailing expectation for investors was that things just somehow get worked out.

from The Great Debate:

The real reason Greek PM Alexis Tsipras wants a referendum on debt deal

By Marco Vicenzino
June 29, 2015

Anti-austerity protesters burn a euro note during a demonstration outside the European Union offices in Athens, Greece

Anti-austerity protesters burn a euro note during a demonstration outside the European Union offices in Athens, Greece, June 28, 2015. REUTERS/Alkis Konstantinidis

from Breakingviews:

Capital controls hit Greek economy at worst time

June 29, 2015

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Hugo Dixon:

It’s still possible to stop Grexit

By Hugo Dixon
June 29, 2015

The chance of Greece quitting the euro has risen sharply. But a so-called Grexit can still be stopped, despite dramatic weekend developments which saw Athens declare a six-day bank holiday after talks with its creditors broke down.The most obvious way of avoiding a Grexit is if the people vote to accept the bailout terms offered by euro zone countries and the International Monetary Fund in a referendum set for July 5. But even if they do that, it’s not certain Greece will avoid a return to the drachma.

from Morning Bid with David Gaffen:

It’s All Greek to Us

June 29, 2015

Today looks set to be one of those days when the fictional (The Princess Bride) character Inigo Montoya’s directive: “Let me explain. No, there is too much. Let me sum up” would prove valuable.

from Breakingviews:

Hugo Dixon: It’s still possible to stop Grexit

By Hugo Dixon
June 29, 2015

Hugo Dixon is Editor-at-Large, Reuters News. The opinions expressed are his own.

The chance of Greece quitting the euro has risen sharply. But a so-called Grexit can still be stopped, despite dramatic weekend developments which saw Athens declare a six-day bank holiday after talks with its creditors broke down.The most obvious way of avoiding a Grexit is if the people vote to accept the bailout terms offered by euro zone countries and the International Monetary Fund in a referendum set for July 5. But even if they do that, it’s not certain Greece will avoid a return to the drachma.