Tag: Alexis Tsipras

The sixth post of pre-Christmas 2018: June

Tuesday, 18 December, 2018

Football didn’t quite “come home” after this year’s World Cup but England did reach the semi-finals and lost, valiantly, to Croatia, who were beaten in the final by a superior French side. Our review of the year has reached the month of June.

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Back in June 2015, the former German Federal Minister for Finance Wolfgang Schäuble lost patience with the Greek Prime Minister Alexis Tsipras. “Isch over,” he said. The context were the interminable talks about talks about talks to keep Athens funded and within the Eurozone.

Three years later, somethings have changed and more remain the same: “Tsipras Vows to Stick With Greece’s Euro Deal” is today’s Bloomberg headline. One thing has changed dramatically since 2015, however. Germany has lost its nimbus as a football power. Yesterday’s humiliating defeat by South Korea and the terrible performances against Mexico and Sweden mean “Isch over.” Over and out of the World Cup.

Apropos, in the Guardian, the former German midfielder Thomas Hitzlsperger says, “This was not the Germany we are used to – I feel completely empty.” He also places a finger in a fatal self-inflicted wound by team manager Joachim Löw:

“I’m aware there has been a lot of talk in England about Leroy Sané’s exclusion from the squad following his excellent season with Manchester City and, for me, he is a player who should be reintroduced immediately. He is exactly the calibre of player Germany needs, someone who is young and has raw, dangerous pace.”

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Since June, Löw has sobered up and Sané is now a regular fixture in the German team, where his ability and agility are beginning to add sparkle. Tomorrow, here, the seventh post of pre-Christmas 2018 dwells upon the new Empire of Evil: China.


We need to talk about Greece

Tuesday, 20 January, 2015 0 Comments

The latest poll before Sunday’s election in Greece show the anti-bailout party Syriza getting 33.5 percent of the vote. Should this translate into a majority for the left-wing agitator Alexis Tsipras, the cat will be truly among the euro doves and hawks next week. Note: Syriza has promised to enact a law preventing banks from seizing the homes of people who have fallen behind on mortgages on primary residences valued at less than €300,000.

Greek euro On Friday, the Wall Street Journal reported: “Adding to the air of trepidation ahead of the vote, Eurobank and another lender, Alpha Bank SA, have requested access to an emergency cash facility run by the central bank. Both said the moves were only a precaution and that neither faced an immediate funding crunch.” The report’s next sentence is a classic: “People familiar with the matter said the banks are seeking a few billion euros between them.” Just like that: “a few billion euros between them.” Not hundreds, not thousands, not millions; just a few billion.

The Journal article moved Bloomberg View columnist Megan McArdle to write a piece headlined “It Might Be Time to Panic About Greece.” Money quote: “I rush to note that we are hardly in the end days yet; bank officials told the Wall Street Journal that this was only a precautionary move, and they were not facing an immediate cash crunch. One is always pleased to hear that bankers are being cautious. But the Journal also reports that $3 billion has fled Greek banks over the last two months, and there are rumors that other European banks are reining in their lending to their Hellenic counterparts. Which means that, unfortunately, their caution seems more than warranted.”

Wait until Monday. Meanwhile…