Head of the ESM on the news
- Size of bailout fund is sufficient for Greece if it is agreed
- Contagion risks from Greek sovereign is no longer there
- Greek banks still oppose a risk to euro region stability
- If Greece fails to get a 3rd bailout their banking system will collapse
Schaeuble popping up for his daily Greek digest
- Greek implementation progress will be monitored (they did such a great job last time)
- Debt forgiveness not possible within euro (but maybe so out??)
- Greece needs to stick to its obligations
- Many economists including the IMF doubt whether Greece problems can be solved without a debt haircut
- Temporary exit would be a better path
- No one knows how it should work without a haircut
That's a good point. It doesn't seem like anyone knows what to do with Greece and its debt load. All these measures are still just putting fingers in leaks
- ECB and EC said Greece poses a risk for the Eurozone
- Achieving Greek debt sustainability is difficult
- Will not bend a single ESM rule for Greece
- Will submit a request to parliament for further aid with full conviction
