European leaders have consistently claimed that their anti-contagion measures would protect the rest of the eurozone from a Greek exit. This looks like pure propaganda.
Blaming the troika for the Greek defaut this week isn’t the full story. The problem here is that the eurozone is not the main reason for the Greek crisis.
A Greek default and exit from the eurozone might cost the UK the odd billion here and there, but the real risks are in a nervous banking sector and the devastating potential of Brexit.
The Greek government shut all banks in the country on June 29 after the European Central Bank capped emergency funding to the lenders. Cash withdrawals from ATMs are now limited to €60 a day (about US$67…
Syriza came to power promising to renegotiate Greece’s relationship with the EU. The fallout of their attempts to do so is a lesson for a UK that would try to do the same.
Crisis postponed. On Friday, Greece, the European Union (EU) and the International Monetary Fund (IMF) brokered a four-month extension of bailout loans to the newly-installed government of Alexis Tsipras…