03-26-2015, 12:08 PM
In Berlin, it is believed that Europe’s currency union is now sufficiently well bullet proofed to withstand a Greek default, and even exit, with only a bare minimum of adverse consequences for everyone else. A similarly naïve mind-set rules in Athens, where it is believed that Greece can both default and still remain in the euro. Both positions are fantasy, and therefore greatly increase the chances of disastrous mishap. Europe is once again sleep walking towards the abyss.
Europe once more sleep walks towards the abyss - Telegraph
The European Central Bank increased the cap on emergency liquidity for Greek banks, two people familiar with the decision said, as it seeks to keep the lenders alive without financing the nation’s government.
ECB Said to Raise Cap on Greek Banks to Over 71 Billion Euros - Bloomberg Business
Greece has until Monday to show how it will follow through on reform commitments after the euro area ruled out speedy access to aid funds, three officials said following a conference call of finance ministry deputies.
Euro Area Said to Give Greece Five Days to Deliver Plan - Bloomberg Business
“Let me disagree with about everything you said,” the ECB boss opened his comeback. “Are we blackmailing Greece? That’s a bit rich to say. The ECB has 104 billion euros exposure to Greece. That’s 65% of Greek GDP and the highest exposure in the eurozone.”
ECB’s Draghi: We’re not blackmailing Greece - MarketWatch
The "economic and financial disaster" of Greece's ruling Syriza party has hit the chances of other populist parties gaining power in Europe, analysts told CNBC, after surprising shifts in voting in local elections in France and Spain this weekend.