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 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 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:

Do You Believe in Magic?

June 22, 2015

The main action for investors is a focus on that same problem – Greece. But hope springs anew on fresh reports of a cash-for-reforms deal in the hours jut before the latest LAST meeting to be held Monday evening Europaland-time.

from Breakingviews:

Fed might fret about emerging market “spillback”

June 16, 2015

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

from Breakingviews:

Greece and creditors are not really far apart

By Edward Hadas
June 15, 2015

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

from MacroScope:

A bit of Greek clarity from an act of defiance

By Mike Peacock
June 5, 2015

People make their way past a stencil by street artist Flip in Athens

Greece’s decision to delay a 300-million-euro payment to the IMF today and instead try to meet all June’s payments at the end of the month was probably an act of bravado for domestic consumption but it also clarifies things.

from Breakingviews:

Hugo Dixon: How Greece can cut a goodish deal

By Hugo Dixon
June 4, 2015

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

from MacroScope:

The end game approaches

By Mike Peacock
June 4, 2015

Greek Prime Minister Tsipras walks with European Commission President Juncker ahead of a meeting at the EU Commission headquarters in Brussels

One way or another, the end game for Greece approaches.

Last night, Greek Prime Minister Alexis Tsipras left talks with senior EU officials in Brussels saying a deal with creditors was "within sight" and that Athens would make a payment due to the IMF on Friday.