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.

Tsipras gets no leeway in Riga

By Mike Peacock
May 22, 2015

Latvian President Berzins welcomes Greek Prime Minister Tsipras at the Eastern Partnership Summit in Riga

The Greek government states that a cash-for-reforms deal with the EU and IMF can be finalized in the next 10 days but the other side is much less optimistic and there was no sign of a breakthrough at the EU summit in Riga which Prime Minister Alexis Tsipras had been pinning some hope on.

Will Tsipras spring something in Riga?

By Mike Peacock
May 21, 2015

Greece's PM Tsipras, Malta's PM Muscat, EU Commission President Juncker and France's President Hollande attend an EU leaders summit in BrusselsGreek premier Alexis Tsipras is pinning his hopes on using an EU leaders summit in Riga with eastern European partners from Ukraine, Georgia, Azerbaijan and others to strike the broad outline of a cash-for-reforms deal to stave off default.

More Greek talks, Riga summit unlikely to be decisive

By Mike Peacock
May 20, 2015

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

Greece’s European lenders have played down hopes of a swift end to aid negotiations and said talks must speed up before the country runs out of cash. That contrasted sharply with optimism in Athens where a series of top officials asserted that a deal was just days away.

Greeks talk up deal prospects, but what has changed?

By Mike Peacock
May 19, 2015

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

In an epic late-night talk show appearance, Greek Finance Minister Yanis Varoufakis said his government was nearing a cash-for-reforms deal with its euro zone partners and the International Monetary Fund that would help it meet debt repayments next month.

ECB sees inflation back by year-end

By Mike Peacock
May 18, 2015

Mersch, Member of the Executive Board of the European Central Bank presents an oversized newly unveiled 10 euro note at the headquarters of the European Central Bank (ECB) in Frankfurt

An interesting weekend intervention by ECB policymaker Yves Mersch who said there was no question of winding up QE early and that inflation, still skulking around zero, would stay there until autumn then rise sharply late in the year towards 1.5 percent.

Cameron begins his Scottish dance

By Mike Peacock
May 15, 2015

Scotland's First Minister Nicola Sturgeon and Britain's Prime Minister David Cameron pass each other as they pay tribute at the Cenotaph to mark the 70th anniversary of VE Day in London

British Prime Minister David Cameron will hold talks in Scotland with the other big winner in last week’s elections, Scottish nationalist leader Nicola Sturgeon, who has already warned him it cannot be “business as usual” with Scotland.

Watching Draghi at the IMF

By Mike Peacock
May 14, 2015

European Central Bank President Draghi and Vice President Constancio leave after addressing an ECB news conferenc in Frankfurt

European Central Bank President Mario Draghi is in Washington for talks at the International Monetary Fund and will deliver a speech there. Presumably Greece will be item 1, 2, 3 and 4 on the agenda.

French growth leapfrogs Germany’s in Q1

By Mike Peacock
May 13, 2015

The French Pole Emploi stand is seen during the 20th Forum de l'Alternance in Paris

It’s euro zone GDP day. German and French data are already out with Europe’s largest economy growing by 0.3 percent, below both the 0.5 percent forecast and the 0.7 percent achieved in the last three months of 2014.