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 Rahul Karunakar:

ECB TLTROs working but lending has a long way to go

June 24, 2015

A labour council representative holds a facsimile 500 euros note with the portrait of Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, before the French carmaker Renault's shareholders general meeting in Paris

Almost a year after the European Central Bank announced new cash loans tied to actual lending to small and medium enterprises, data on Friday is expected to show euro zone private loans are picking up pace.

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.

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.

As window closes, Greek activity picks up

By Mike Peacock
June 3, 2015

German Chancellor Merkel and Greek Prime Minister Tsipras leave after addressing news conference in BerlinIt’s still not clear if a Greek deal will be done but the pace of activity has certainly picked up.

The “take it or leave” it moment?

By Mike Peacock
June 2, 2015

German Chancellor Merkel, French President Hollande and European Commission President Juncker arrive to make statements to the media before a meeting with top company executives in Berlin

Five people who hold Greece’s fate in their hands – Angela Merkel, Francois Hollande, Mario Draghi, Jean-Claude Juncker and Christine Lagarde – met for talks in Berlin last night.

Beneath the babble, little sign of Greek progress

By Mike Peacock
June 1, 2015

Greece's Finance Minister Varoufakis and Eurogroup chairman Dijsselbloem talk during an euro zone finance ministers meeting in Brussels

We went into the weekend pondering the Greek government’s expectation that a cash-for-reforms deal would be agreed on Sunday, and we come out the other side with no breakthrough … again.

Greek claim and counter-claim

By Mike Peacock
May 28, 2015

German Chancellor Merkel and Greek Prime Minister Tsipras leave after addressing news conference in Berlin

Another day of claim and counter-claim.

The Greek government said a deal with its lenders had reached the drafting stage and would not require wages and pensions cuts or reforms to the VAT regime. It didn’t take long for euro zone officials to retort that this simply was not the case and that the two sides remained far apart.

Can’t pay, won’t pay

By Mike Peacock
May 26, 2015

 

Latvian President Berzins welcomes Greek Prime Minister Tsipras at the Eastern Partnership Summit in RigaAfter many mixed messages in recent months, the Greek government seems to have alighted on one simple line: can’t pay, won’t pay.

Greek money seems close to running out

By Mike Peacock
May 25, 2015

Greece's PM Tsipras, Malta's PM Muscat, EU Commission President Juncker and France's President Hollande attend an EU leaders summit in Brussels

The smart money has always been on a last-minute deal being done to keep Greece afloat with Athens making most of the concessions and the euro zone and IMF bending only a little. But the chances of a car crash are growing as each day passes.