Greece and the euro: My big fat Greek divorce

by admin / Thursday, 18 June 2015 / Published in Economy

UK Only Article: 
standard article

Issue: 

My big fat Greek divorce

Fly Title: 

Greece and the euro

Rubric: 

Greece and the euro zone are stuck in an abusive relationship

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20150620_LDP001_0.jpg

IT IS never pleasant to watch a relationship founder. Greece’s prime minister, Alexis Tsipras, has charged its creditors with trying to humiliate the country; he has accused the IMF of “criminal responsibility” for Greece’s suffering. Prominent euro-zone politicians are saying openly that, without a deal to release rescue funds in the next few days, default and “Grexit” loom.
The urgency is because of a repayment of €1.5 billion ($1.7 billion), which Greece seemingly cannot afford, to the IMF on June 30th and because Greece’s European bail-out expires that day. Cue the last-ditch negotiations that have become a Euro-speciality: just after The Economist went to press, finance ministers were to assemble in Luxembourg; leaders may meet over the weekend; a European Union summit is scheduled at the …<div class="og_rss_groups"></div>
Source: The Economy