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Greek brinksmanship

The Trader

Greek brinksmanship

Here we are yet again, battling over the terms for another hand-out for a country that’s on its knees. Meant to be finalised in time for the Eurozone finance ministers’ meeting in Brussels on Monday, in typical EU fashion things drag on with clumsy brinksmanship.

Yesterday Italy’s lower house of Parliament approved €20 billion worth of state aid for its banking sector. The money, complying with state aid rules, may take the form of liquidity guarantees, capital injections, and emergency cash loans, according to a Bloomberg report.

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