Backed into a corner as the banks reached the brink, the Greek prime minister may have fashioned some sort of success, and the prospect of something approaching debt relief a little down the line.
Celebrations by No supporters on July 5 in front of Greek parliament in Athens.
EPA
With the ECB freezing the level of emergency liquidity assistance it is providing to Greek banks, the nightmare scenario for Greece is already beginning to unfold.
Blessed are the bean counters? New investment in Greece could drive development.
David Dennis
A call to break with the leadership of Greece’s ruling party has highlighted the futility of debt-led austerity and the burden it places on people on the wrong side of a banker’s bad bet.
Alexis Tsipras’ visit to Moscow this week drew a terse response from Angela Merkel, but no deal has been announced.
Alexey Nikolsky/Ria Novosti/Kremlin Pool/EPA/AAP
The European Central Bank (ECB) symbolises the strange mix of politics and technocracy that marks EU governance. The bank was pushed to centre stage by the eurozone debt crisis and the unwillingness or…
Keeping them waiting. Mario Draghi.
World Economic Forum
Mario Draghi did get round to announcing a much-anticipated new round of quantitative easing (QE) in the end, but never have nine minutes felt so long. The world tuned into the European Central Bank press…
This Greek election is the most important in recent memory. It appears Syriza has won by a large margin, ending four decades of two-party rule in Greece. Since 2010 – and as a result of austerity measures…
The European Central Bank is set to buy up government bonds.
jurjen_nl/Flickr
By allowing the European Central Bank (ECB) to start buying debt issued by its member states, the eurozone is copying a strategy now associated with the earlier return to growth in the US and UK. Quantitative…
Will Mario Draghi, president of the European Central Bank, continue with its disastrous policy history?
EPA/Boris Roessler
As investors anxiously await the announcement from the European Central Bank about whether the eurozone will implement quantitative easing (QE), we can tell from the ECB’s track record that it is very…
Now is the winter of our discount cents.
Kosala Bandara
In one of the most remarkable days in the foreign exchange market for at least 20 years, the Swiss franc rose by an astonishing 30% against the euro in a mere five minutes. This is as a result of the announcement…
Greece is again making headlines, and markets are concerned the euro crisis is back. Actually, the crisis never left. It is just that for a little while both the authorities and the markets chose to cherish…
How much longer will both flags fly over the Acropolis?
Reuters
For faithful followers of the European economy, it feels like déjà vu all over again. Turmoil in Greece is raising doubts about the country’s continued membership in the eurozone. The specter of a “Grexit…