Berenberg Macro Flash : GREECE: A FIRST STEP AWAY FROM THE BRINK?

www.berenberg.de/uploads/tx_news/150203_Macro-news_greeceuturn.pdf

Varoufakis wants to present detailed proposals for such a new deal before the end of February. Encouragingly, he

admitted that in the pursuit of a modest primary surplus, the new Greek government may have to backtrack on

some of its election promises for more public spending.

That is a start. But serious problems remain:

- The Greek problem is more about competitiveness...