Greece and its creditors: When the talking has to stop

Posted: May 29, 2015 in economy
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The weaker sex

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Greece and its creditors


Despite the foreboding, a deal still appears the most likely outcome



THE latest episode in Greece’s long-running economic drama is coming to a head. Since the victory of the radical-left Syriza party in the election of late January, Greece’s creditors and the new government headed by Alexis Tsipras have been exchanging threats. A resolution of some kind must occur in June, and sooner rather than later in the month.
It could still be a disastrous falling-out that leads to Greece defaulting on official loans, imposing capital controls, freezing deposits and tumbling out of the euro. But as time and money run out, the concentrating of minds on both sides seems likely to bring a deal.

Mr Tsipras is the one under most pressure. A recent payment to the IMF of €750m ($825m) was made only by drawing down a special account Greece held at the fund. Next month the government is due to pay …<div class="og_rss_groups"></div>

via Economic Crisis


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