Saturday, June 13, 2015

+++ Greek crisis +++ economist: Grexit would be manageable markets – ABC Online

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economist withdrawal of Greece from the euro zone as a manageable

10.30 Clock: A withdrawal of Greece from the euro zone would be manageable in the opinion of economists Thomas Mayer. “An absolute disaster à la Lehman I see not, because Lehman was scary networked in the international financial system,” the former chief economist of Deutsche Bank said on Saturday in Germany radio. The US investment bank Lehman Brothers had triggered a global financial crisis with its bankruptcy in 2008.

Greece, however, is already longer cut off from the international financial market. Main creditors are still the International Monetary Fund (IMF) and the European Stability Mechanism ESM. Since no one in any case believe that Greece can fully repay its debts, a Grexit would only lead to a correction of the balance sheets. For the people and the economy in Greece a euro exit would have devastating consequences, however.

BDI President Grillo: not save Greece at any cost

09.09 clock: The German economy is losing patience with Greece. “There can not remain at all costs,” writes the President of the Federation of German Industry, Ulrich Grillo, in a commentary for the “Frankfurter Allgemeine Zeitung”. According to him, threatening a dangerous weakening of the applicable rules and legislation. “If there is no confidence that contracts and the ancient Roman principle of pacta sunt servanda apply ‘, the foundations of our laws and values ​​are at risk,” he wrote in the FAZ “This price is too high.” So far, the major business associations were more restrained in their criticism

IMF and Greece talk to each other again

Saturday, 11.08 Clock:. A Greek government delegation will be in the course of day efforts to move in the deadlocked debt dispute. “The Greek side is ready to put forward counter-proposals, so that the remaining differences can be bridged (the creditors),” it says in government circles in Athens. As the newspaper “Die Welt” reported at the talks in Brussels, the International Monetary Fund (IMF) will be present again. The IMF team left the talks with Greece on Thursday because of “significant differences”.

Greece wants to make new proposals for a settlement of the debt dispute its international lenders. Representatives of Prime Minister Alexis Tsipras would put the “counter-proposals” on Saturday in Brussels on the table, it said in a statement from Athens. An agreement was “closer than ever before.”

The euro zone finance ministers advised on 18 June in Luxembourg on the financial crisis; then the IMF chief Christine Lagarde will once again sit at the table.

The Greek Government considers an understanding hitherto possible. “There will be an agreement because a Greek default neither in favor of us still our creditors would”, State Minister Alekos Flambouraris said Friday the state broadcaster ERT.



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