Not good for anybody.
Nomura decided to ask 426 professional investors what they thought Greece should do, and the answer was pretty resoundingly, “not this.”
Almost half of more than 400 global managers surveyed by Nomura say ‘grexit’, or a Greek exit from the eurozone, would have been a better option for the country, according the research released Monday….
“Investors view the deal with Greece very pessimistically,” says Jens Nordvig, the analyst at the bank who run the survey on 426 hedge funds, asset managers, banks and companies.
Greece should aim for ambitious reforms in negotiations on its third bailout programme, the German finance ministry said on Monday, adding the talks should be conducted thoroughly and without any time pressure….
Asked about a German media report that creditors were willing to loosen austerity requirements, a finance ministry spokeswoman said: "This has to be an ambitious ESM programme because of the financial needs of the Greek government."
Also, Herr Schäuble would really, really appreciate it if the IMF would shut the fuck up about what a disaster his beloved austerity is.
The eurozone’s economy will fall further behind that of the U.S. without a concerted effort to boost demand through increased government spending and lower taxes, make labor markets more flexible, and rid banks of bad loans, the International Monetary Fund said Monday….
“Given the weak medium-term outlook, a stronger collective push is urgently needed to consolidate the recovery, raise potential growth, and strengthen the union’s resilience,” the IMF’s economists said.
‘Grexit’ Could Have Been a Better Option, Survey [WSJ MoneyBeat blog]
Germany says Greece must aim for “ambitious” reforms in bailout talks [Reuters]
IMF Sees Troubles for Eurozone Beyond Greek Crisis [WSJ]