That was quick…

Greece called into question on Saturday a major debt repayment it must make to the European Central Bank this summer, after acknowledging it faces problems in meeting its obligations to international creditors.


There is more , most of all showing the Greeks have not obtained much leverage from the talks.  They are in a deep liquidity squeeze, even post “agreement.”  The Bundestag overwhelmingly approved last week’s “deal,” whereas the Greeks don’t even want to vote on it.  So who won that round?  The on-paper ability to be flexible with a primary surplus — that isn’t real any more — just isn’t worth very much right now.


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Published on February 28, 2015 07:26
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