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1 post found for May 2015

‘Goodbye Greece’

As we discussed in January (“Grecian 2015”) and April (“Mario’s Monster Comes to Life”) the confrontational scenario between the Syrizia-led Greek government and its EU and IMF creditors is coming to a head: Greece does not have access to funds to meet the €2bn of IMF funding due to be repaid in June and July and the €6.5bn of government bonds scheduled for redemption in July and August (see Fig. 1).1 So unless a third bail-out programme can be agreed with its creditors, Greece will default, with…