A surprisingly decisive election win for Britain’s Conservative party has cheered financial markets and will probably allow Prime Minister David Cameron to govern unencumbered by coalition partners.
After another day of to-and-fro on Greece’s bailout, Finance Minister Yanis Varoufakis said he expected euro zone finance ministers to acknowledge next Monday progress towards a cash-for-reform deal, opening the way to easing Athens’ liquidity crisis.
We’ve heard various dates for when Greece will run out of money and some have already passed without incident but it is clear Athens’ cash position is getting increasingly desperate and it hasn’t yet managed to win over its creditors with economic reform plans.
The U.S. Federal Reserve may find it even more tough to raise interest rates as the year wears on if dwindling expectations for growth are any guide.
In his first major television interview since being elected in January, Greek premier Alexis Tsipras said last night he expected a deal with creditors by May 9 and that he would call a referendum if they insist on demands that the government deems unacceptable, leaving it to the Greek people to decide which way to jump.
Greek Prime Minister Alexis Tsipras is in Moscow.
There has been talk from some in his Syriza party that Russia could be a substitute for EU support. Western sanctions over Ukraine leave it in no position to give Greece funding though the agriculture minister said Moscow could consider removing Greece, Hungary and Cyprus from its ban on most Western food imports, imposed in response to sanctions imposed by the EU and United States.