The ECB also announced to meet in an emergency meeting to possibly assist indebted Greek banks. Several of these risks are not open on Monday due to lack of liquidity.
The latest maneuvers similar to those metaphors that “now is the train”, “eleven fifty-five” and “knife against the throat” that has been used frequently in recent months. At the end the country will pay a loan to the International Monetary Fund (IMF) of EUR 1.5 billion. At the end of the month are also at the EU support package out and not extended it must Greeks fend for themselves, says Bergqvist.
– They do not. We’ve been talking about deadlines long but the closer the end we go, the more acute becomes state.
Formal settled the question during summits of the week. On Monday, the euro zone finance ministers, who in record time interrupted their meeting last Thursday, and later also meet heads of government. Someone has to give way.
– There must be Greece. Aid to the country has actually been quite extensive in recent years, with 240 billion euros in rescue loans, a debt reduction of 65 percent of GDP and a nödkreditlina ECB of 85 billion euros. The world has really set up for Greece.
However, it is is not just about economics, but just as much about politics, says Robert Bergqvist. Should the negotiations end with the collapse and that Greece leaves the euro and by extension perhaps also the EU initiated a development that can have unexpected consequences. It is not simply that Spain and Portugal could be next in line, it applies to many other countries where there are currently anti-EU and populist parties.
– Should Greece leave you all realize that there is a return ticket to Europe. Today there is a great pressure in many countries for greater economic-political independence and it blows a public opinion-rate headwinds for the entire EU project.
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