Showing posts with label Elections 2015. Show all posts
Showing posts with label Elections 2015. Show all posts

Sunday, March 15, 2015

Italy, Spain to follow if Greece exits eurozone, says Greek defense minister


Greece's Defense Minister Panos Kammenos has said his country's exit from the eurozone could be followed by Italy, Spain and even Germany. Kammenos' interview comes amid lack of progress in Greece's bailout plan.

Panos Kammenos, Greece's defense minister, spoke to German newspaper "Bild" on Saturday, saying his country's leaving the euro could precede an exit by Italy and Spain, followed by Germany in the future.
"If Greece explodes, Spain and Italy will be next and then at some point, Germany. We therefore need to find a way within the eurozone, but this way cannot be that the Greeks keep on having to pay," Kammenos told Bild.

Wednesday, January 28, 2015

Greece Puts Mind Over Money

6 JAN 28, 2015 12:01 AM EST
By Justin Fox


“…More often than not, though, what makes a person an interesting thinker isn't what makes a good political leader…”

“…To make those things happen, though, he would need to be finance minister of Germany, not Greece…”

Monday, January 26, 2015

Syriza’s Post-Election Challenge: An Empty Greek Treasury

Victorious Antiausterity Party Led by Alexis Tsipras Has Limited Time to Strike Deal With Greece’s Creditors

The Wall Street Journal

Updated Jan. 25, 2015 8:11 p.m. ET

The clock is ticking for Syriza—the victorious antiausterity party in Greece’s elections—to strike a deal with creditors to keep Greece solvent and in the euro.

GLOBAL MARKETS-Far-left victory in Greece bruises European markets

Mon Jan 26, 2015 4:17am EST


* Syriza victory in Greece stokes concerns over Europe instability

* ECB QE, hopes for compromise with lenders limit market reaction

* European shares fall, periphery borrowing costs rise

* Euro stabilising after hitting 11-year low

By Marius Zaharia

Despite Initial Tremors, Markets Shake Off Greek Election Results

The New York Times

PARIS — Financial markets on Monday took in stride the result of Greek parliamentary elections, which handed a decisive victory to the left-wing Syriza party a day earlier.

Syriza and its outspoken leader, Alexis Tsipras, had campaigned against the austerity measures imposed on Greece by its international creditors.

Tsipras Wins and Sets Greece on Collision Course With Euro Partners

By Nikos Chrysoloras and Marcus Bensasson  Jan 26, 2015 9:42 AM GMT+0200
Greek Prime Minister-elect Alexis Tsipras set up a confrontation with his European peers as he prepared to form a coalition dedicated to ending austerity, saying the era of bowing to international demands for budget cuts is over.

Tsipras issued the challenge to Greece’s euro-area partners after his Syriza party won a historic victory in Sunday’s elections by harnessing a public backlash against years of belt-tightening, job losses and hardship. Tsipras, who is two seats shy of an absolute majority in Greece’s 300-seat chamber according to the latest results from the Interior Ministry, said his priority “will be for Greece and its people to regain their lost dignity.”

U.S. Futures Slip as Euro Fluctuates on Greece; Oil Falls

By Nick Gentle and Yuko Takeo  Jan 26, 2015 8:53 AM GMT+0200

U.S. equity-index futures slid and Treasuries rallied as the euro fluctuated near a more-than 11-year low after Greek voters handed victory to a party that’s pledged to renegotiate the terms of an international bailout. Asian stocks dropped with crude oil and industrial metals.

Standard & Poor’s 500 Index futures sank 0.6 percent by 3:51 p.m. in Tokyo and the yield on 30-year Treasuries fell to a record. The 19-nation euro dropped to as low as $1.1098, the lowest since September 2003, before gaining 0.1 percent. The MSCI Asia Pacific Index (MXAP) lost 0.3 percent. U.S. crude declined 1.6 percent and nickel slid 2.2 percent in London. China’s yuan headed for its biggest two-day drop since 2008 versus the dollar.

Sunday, January 25, 2015

Greece votes on whether to dump austerity, take on lenders

ATHENS Sun Jan 25, 2015 9:58am EST

(Reuters) - Greeks voted on Sunday in an election expected to bring to power the radical leftist Syriza party, which has pledged to take on international lenders and roll back painful austerity measures imposed during years of economic crisis.

Barring a huge upset, Syriza, which has led opinion polls for months, will be the biggest party and aims to form the first euro zone government openly committed to cancelling the austerity terms of its EU and IMF-backed bailout program.

All eyes on Fed, Greece after ECB fires bazooka

PARIS Sun Jan 25, 2015 4:39am EST
(Reuters) - After the surprises from central banks which rocked markets at the start of the year, the U.S. Federal Reserve will be watched as closely as ever this week to see that it doesn't stray from its own policy path.

The atmosphere will already be tense as the fallout from Sunday's snap election in Greece settles and concern has grown in some quarters that central banks, which played such a big part in guiding economies through the financial crisis, are becoming less predictable.

Greece Is About To Make A Leap Into The Unknown

JAN. 25, 2015, 12:31 AM
Business Insider

Athens (AFP) - Greece votes Sunday in a snap general election that could bring the radical left Syriza party to power and pose the most severe challenge yet to austerity policies in struggling eurozone countries.

Electing Syriza and their 40-year-old leader Alexis Tsipras would represent a leap into the unknown, but many Greeks appear prepared to take a chance after years of hardship.

Saturday, January 24, 2015

Greece: Austerity, Relief or Exit?

9:26 AM EST JAN 23, 2015
By Marcus Walker

The Wall Street Journal

Greece’s elections on Sunday take place against the background of rising tensions between the small nation and its main creditors, eurozone governments and the IMF, about the country’s strict bailout regimen. Polls point to a win for leftwing opposition party Syriza over the ruling conservatives of New Democracy. Would a Syriza-led government start a game of chicken with Germany and other creditors that could lead to havoc and a Greek exit from the euro? Or can a compromise be found? Here’s our crystal ball.

Q: Who will lead the next Greek government?
Very likely Syriza (whose leader, Alexis Tsipras is pictured above), the leftwing opposition party, unless the conservative incumbent, Premier Antonis Samaras, pulls off the biggest upset victory since Harry Truman in 1948. Syriza might win an absolute majority in Parliament, but polls suggest it will fall just short, requiring support from another party. A pact with centrist To Potami (The River) or center-left Pasok could make the government more pragmatic in talks with Greece’s international creditors. A pact with the nationalist Independent Greeks could make it more hardline.

Friday, January 23, 2015

Eurogroup chief Dijsselbloem issues warning to Greece before election: magazine

BERLIN Fri Jan 23, 2015 5:15am EST

 "And that also means: any country that need support to finance its economy and public expenditures must stick to those conditions."

Tsipras urged Greeks to give Syriza an outright victory in Sunday's vote so the country could turn its back on four years of austerity under the terms of the EU/IMF bailout.

Thursday, January 22, 2015

How Greece and Germany Brought Europe’s Long-Simmering Crisis Back to a Boil

A Game of Chicken Between the Greek Government, Creditors Helped Put Radical-Left Opposition Party Ahead in Polls

The Wall Street Journal

“…the austerity Europe has imposed on Greece as the price of rescue loans…”
“snap elections Sunday, … could return the country to the brink of exit from the euro…”
Mr. Samaras, a suave conservative who swings between statesmanship and populism…”
“…Wolfgang Schäuble …wanted to boot Greece out of the euro…”
“…Mr. Samaras faced a younger, left-wing version of himself: Syriza leader Alexis Tsipras , who blamed the crisis on austerity, not austerity on the crisis…”
“…Eurozone finance officials now think Greece will need a longer bailout. Sunday’s election winner must bridge an even bigger gap….”

Updated Jan. 21, 2015 9:17 p.m. ET

Wednesday, January 21, 2015

Samaras Adrift as Syriza Lead Widens Before Greek Vote

By Nikos Chrysoloras and Paul Tugwell  Jan 20, 2015 1:48 PM GMT+0200
Syriza widened its lead over Prime Minister Antonis Samaras’s New Democracy in three opinion surveys just days before the general election, prompting one pollster to say the race was all but decided.

Syriza, an acronym for Coalition of the Radical Left, led by between 4 percentage points and 6.5 percentage points in separate surveys conducted by GPO, Alco and the University of Macedonia based in Thessaloniki. That’s up from about 3 points last week.

An impasse in Paris, a gamble in Athens: how Greece returned to crisis

Wed Jan 21, 2015 1:00am EST

* Political uncertainty weighed on bailout review talks

* PM Samaras had little room for more austerity

* Failed talks, uncertainty prompted PM to call forward vote

By Renee Maltezou, Lefteris Papadimas and Deepa Babington

ATHENS, Jan 21 (Reuters) - After four years of economic sacrifices, Greece bet it could agree an early end to its international bailout. Instead a stand off with creditors in a Paris townhouse led to new political uncertainty and another euro zone storm.

Monday, January 19, 2015

Greece’s Syriza Leads in Polls as General Election Looms

Leftist Opposition Party Widens Lead, According to Survey in Newspaper To Vima

Wall Street Journal

Jan. 18, 2015 9:48 a.m. ET

ATHENSGreece’s leftist Syriza party is holding its lead in opinion polls a week ahead of a key general election, amid signs that political uncertainty is taking a growing toll on the economy.

Friday, January 16, 2015

Greece's Alpha Bank, Eurobank applied for ELA funding-source

ATHENS Fri Jan 16, 2015 4:34am EST

Jan 16 (Reuters) - Greece's Alpha Bank and Eurobank were the two lenders that applied for emergency liquidity assistance (ELA) from the Greek central bank, a banking source told Reuters on Friday.

A Eurobank investor relations executive confirmed it had applied for the emergency funding. Alpha Bank declined to comment.

Increased deposit outflows since Greece called snap elections slated for Jan. 25, coupled with government T-bill issues have squeezed banks' liquidity levels. (Reporting by George Georgiopoulos, editing by Deepa Babington)

Politics Risk Tripping Up Greece on Debt Relief

Greece’s debt looks fairly manageable. It’s politics that makes it problematic.

Updated Jan. 15, 2015 5:26 p.m. ET
Does Greece need debt relief? Alexis Tsipras, leader of the left-wing Syriza Party and the man who could be Greece’s next prime minister, says it does.

“There is no single sensible person in the whole of Europe who seriously thinks that Greece’s debt is sustainable and must be repaid in full,” he said in a speech on Tuesday.

Tuesday, January 13, 2015

Greek leftist: German taxpayers have nothing to fear from Syriza gov't

Tue Jan 13, 2015 4:55am EST

* Germany says Greece must stick to bailout conditions

* Tsipras' party ahead in polls, wants end to austerity

* Tsipras says Greece needs growth to repay debts

BERLIN, Jan 13 (Reuters) - German taxpayers should not be afraid of a Greek government led by the left-wing Syriza party, its leader Alexis Tsipras wrote in an article published on Tuesday in a German business daily.

Speculation is growing that if anti-bailout Syriza wins Greece's Jan. 25 parliamentary election, it will try to renegotiate European Union loans and conditions, possibly provoking a crisis between Athens and its euro zone partners.

Here's What A 'Grexit' Would Cost Europe

JAN. 11, 2015, 8:40 AM

Business insider

Paris (AFP) - A Greek exit from the eurozone would certainly come at a cost to Europe, but just how expensive would it be?

The amount Athens owes its partners is equivalent to just a tiny fraction of the eurozone's economy, but some analysts are still worried that a 'Grexit' could ultimately cost Europe its single currency.