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Greece heads for early elections

greek-parliament11The way out of the impasse of Greece’s negotiations with its international creditors goes through early elections, according to sources close to the Greek government.

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Quarantine for Greek bank subsidiaries in neighboring countries

bankssssssssssssssssΤhe central banks of Albania, Bulgaria, Cyprus, Romania, Serbia, Turkey and the Former Yugoslav Republic of Macedonia have all forced the subsidiaries of Greek banks operating in those countries to bring their exposure to Greek risk (bonds, treasury bills, deposits to Greek banks, loans etc.) down to zero in order to shield themselves and minimize the danger of contagion in case the negotiations between the Greek government and the eurozone do not bear fruit.

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Is Merkel facing a Bundestag rebellion on Greece?

merkel222On Tuesday, Peter Gauweiler MP, Deputy Chairman of German Chancellor Angela Merkel’s CSU sister party resigned, citing the German government’s position on the successive euro bailouts as the reason. Headlines claimed this spells trouble for Merkel - but how much of a threat is it really?

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