Friday, July 10, 2015

Greece: Agreement seems Possible

by Bill McBride on 7/10/2015 08:41:00 AM

From A Evans-Pritchard: "Just spoke to senior Greek banker. Delighted. Sees 90% chance of deal. France + US saved hour. Still worried Schauble might throw spanner"

From the WSJ: Creditors Assess Greece’s Bailout Plan as Optimism Rises

Greece’s creditor institutions will make an assessment on the country’s eligibility for new bailout on Friday, as some leaders from the currency bloc voiced optimism about the latest Greek economic proposals.

However, a fight still looms about the level of debt relief that will have to accompany any new rescue deal for Greece.
Debt relief - and some hope for the future - are key elements to a successful plan.

From the NY Times: Is Greece Worse Off Than the U.S. During the Great Depression?  Great graphs.  Short answer: Yes.