Impossible Greek algebra
Right now the algebra in Greece seems to make any sort of government impossible. That means even more elections, writes Faisal Islam from Athens.
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Another £50bn has been injected into the economy as Britain struggles to climb out of the double-dip recession – but pensioners and savers say they will come off worse.
Greek politician Alexis Tsipras may hold the euro’s fate in his hands. The modern-day Achilles promises to lead Greeks out of austerity and possibly the EU if elected on Sunday.
Stock markets across Europe and Asia rally on news of Spain’s 100bn euro banking bailout, after the country’s economy is hit by the collapse of the property market.
Right now the algebra in Greece seems to make any sort of government impossible. That means even more elections, writes Faisal Islam from Athens.
Europe awoke to an unpredictable future after elections in France, Greece and EU hopeful Serbia – exactly the type of turmoil that spooks bond and currency traders who crave stability.
As Easter approaches in Andalusia, Faisal Islam visits the Eurozone’s biggest headache.
As the Greek president hits back at criticisms of his country from the EU, it looks like the Greek deal could be unravelling.
Greece is being cauterised. The EU, ECB, and others have prepared the ground for Greece to be detached from the eurozone. Greece now has a horrible choice to make, says Channel 4 News economics editor Faisal Islam.
“Deal to save euro – Britain isolated as usual” – that’s how France and Germany want the Brussels summit reported. Channel 4 News looks at what has been agreed.
Angela Merkel says EU leaders have a “duty” to come to an agreement ahead of the EU summit in Brussels, as the European Central Bank drops interest rates to try and rescue EU banks.
Channel 4 News Economics Editor Faisal Islam says the European Financial Stability Facility bailout fund is being “quietly forgotten” in favour of the European Stability Mechanism.
After key talks with German Chancellor Angela Merkel, France’s President Nicolas Sarkozy says Europe needs a new treaty – as six Euro countries face credit downgrade.
German politicians, reared on the cult of low debt and low inflation, fear that the European Central Bank is losing its Bundesbank DNA, blogs Faisal Islam.
It’s not very democratic, but “pooled sovereignty” is the order of the day as eurozone leaders wrestle to contain the Italian debt crisis. Political editor Gary Gibbon reports.
Though there was nearly 60 per cent against the bail-out deal in a poll last weekend in Greece, there was a majority still wanting to stay in the euro.