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Wednesday, January 28, 2015

RealTime Economic | Greece Has Chosen, but It Doesn’t Get to Decide by Itself

RealTime Economic Issues Watch | Greece Has Chosen, but It Doesn’t Get to Decide by Itself

A hard deadline for any new agreement between Greece and the euro area seems likely to be late June 2015. It is then that a number of Greek bonds held by the ECB and euro area countries reach maturity and must be repaid. The ECB is legally prevented from rolling over any Greek debt (this would be against the EU Treaty), and in the absence of any new deal the Greek government is not likely to have the cash available to pay.

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