By TRG Alerts Admin
The Rendon Group Snapshot Report
Each week The Rendon Group’s media analysts will focus on a different continent and a different issue affecting that continent. As always, we remain available to answer any questions you may have and to provide additional information upon request. For more information regarding The Rendon Group’s products and services, please contact us at Alert@Rendon.com or +1-202-745-4900.
GREEK DEBT NEGOTIATIONS
Greek Prime Minister Alexis Tsipras will continue negotiations to end the country’s financial crisis. Photograph: Kostis Ntantamis/NurPhoto/Rex – The Guardian
This week’s snapshot focuses on the Greek debt negotiations as the country and its creditors seek the best way forward.
News Summary of events during the week of 09MAR-15MAR
Sample of Twitter handles regarding Greek Debt Negotiations
Sample of Third Party Validators regarding Greek Debt Negotiations
Guntram B. Wolff, Director, Bruegel
“Mr. Tsipras may have primarily had a domestic audience in mind…However, in today’s world such a message gets discussed everywhere…I am worried that these statements decrease German popular support for aid to Greece even further.”
– Greek Debt Talks Are Tested by Fraying Ties With Germany, The New York Times, 11MAR15
“The best way to deal with the issue would be by taking legal action, but they decided to politicize the issue…It is embarrassing for a government that came to power on a promise to reverse austerity — and with rhetoric describing Greece as a debt colony and lenders as loan sharks — to backtrack…There is a sense among Greeks that they are sick and tired of being told what to do by Merkel and Schäuble, and so they should push their claims. Why not?”
– Language of Greek Crisis Shifts From Financial Jargon to Humiliation, The New York Times, 12MAR15
Desmond Lachman, Fellow, American Enterprise Institute; former senior IMF economist
“You’re talking about really wayward countries that fall into arrears with the IMF…The way you put an end to that is to show you’ve got good relations with the people who can finance you and help you get through your difficulties…That’s why this is a stupid negotiating tactic.”
– Greece Stirs Doubt on Debt Owed IMF, The Wall Street Journal, 27FEB2015
Sample of open source research conducted by TRG analysts related to Greek Debt Negotiations
1. Will debt negotiations force Greece into Russia’s orbit?
Byline: Chris Matthews
Date: 09 March 2015
Former U.S. Ambassador to Greece Daniel Speckhard argues that European finance ministers are missing the forest for the trees when it comes to the Greek debt crisis.
The seeds of Greece’s current debt crisis were sown years ago. It was the poorest and least stable economy to join the Euro in 2000. Greek and European leaders hoped that joining the currency would force the country to adopt growth policies that would keep it from needing to devalue its currency just to stay competitive.
But the Greek government never adopted such policies. Instead, they cooked the books to gain admission into the Euro and to hide their high debt levels from other member nations.
Once the financial crisis hit, there was no way to sweep the harsh economic realities under the rug. Yields on Greek debt soared and, since 2009, Greece has relied on on the largesse of the rest of the Eurozone, most notably financially conscientious Germany, to remain solvent.
2. Greek Debt Talks Are Tested by Fraying Ties With Germany
Media: New York Times
Byline: JAMES KANTER and NIKI KITSANTONIS
Date: 11 March 2015
BRUSSELS — Growing Greek antagonism toward Germany is coming at a bad time for Athens as it seeks a better debt deal with its European partners.
A demand on Tuesday night by the Greek prime minister, Alexis Tsipras, for wartime reparations from Germany cast a pall over negotiations for more rescue money for Athens that began in Brussels on Wednesday.
Germany, the biggest European lender to Greece, immediately issued a cool response to Mr. Tsipras’s comments, which were made in an address to the Greek Parliament.
Steffen Seibert, the spokesman for Chancellor Angela Merkel, said Wednesday that the issue of compensation linked to the Nazi occupation of Greece during World War II had been legally and politically resolved. “We should concentrate on current issues,” he said.
3. Greece’s Alexis Tsipras Receives Cool Welcome at European Commission
Media: Wall Street Journal
Byline: GABRIELE STEINHAUSER and VIKTORIA DENDRINOU
Date: 13 March 2015
BRUSSELS—Greece’s Prime Minister Alexis Tsipras received a cool welcome Friday from the president of the European Commission, amid heightening tensions between Athens and other European capitals over negotiations on desperately needed financial aid.
“I am not satisfied with the developments in recent weeks,” Jean Claude-Juncker said as he received Mr. Tsipras at the commission’s headquarters in Brussels. “I don’t think we have made sufficient progress.”
Concerns about Greece’s future in the eurozone have grown in recent weeks despite a decision to extend the country’s existing €240 billion ($255 billion) bailout by four months until the end of June. Since that decision in late February, progress has stalled on defining the overhauls the Greek government will implement in return for sustained help.
4. EU executive warns of Grexit ‘catastrophe’, urges euro solidarity
Byline: JAN STRUPCZEWSKI AND ALASTAIR MACDONALD
Date: 13 March 2015
Eurogroup’s Dijsselbloem: Greece shouldn’t blame Germany for its problems
(Reuters) – The European Commission warned of “catastrophe” if Greece has to abandon the euro and its chief executive, Jean-Claude Juncker, urged EU governments to show solidarity as Athens struggles to secure more credit.
A day after German Finance Minister Wolfgang Schaeuble said Greece might stumble out of the euro zone because new, left-wing leaders failed to negotiate new borrowings, Juncker’s economics commissioner said EU hardliners underestimated the risk that this would start a fatal domino collapse of the common currency.
5. BLOG: Greek bailout talks: Are stereotypes of lazy Greeks true?
Byline: Jasmine Coleman
Date: 10 March 2015
Greece has been accused of wasting time after weeks of wrangling over economic reforms needed to extend its eurozone bailout and pay its debts.
Strong statements from Eurogroup head Jeroen Dijsselbloem and German Finance Minister Wolfgang Schaeuble have created an impression that its new left-wing leaders are not pulling their weight.
German tabloid Bild recently launched a campaign against an agreement, printing the banner headline “NEIN!” across an entire inside page, and encouraging readers to take selfies with the poster.
“No more billions for greedy Greeks,” it demanded.
Copyright 2018 The Rendon Group. Powered By Impressive Business WordPress Theme