Friday, 10 February 2012

Eurocrisis links

1. Greek police to arrest German budget hardliners.

2. Escaping from the crisis: a fiscal union of political union.   From the  FT.

3. Quantitative easing in 60 seconds.    

4. Ireland can show Greece a way out of the crisis

5. A clever escrow plan to outwit the Greeks?  From Jacob Kirkegaard who sees the central problem as this:
Until now, successive Greek governments have argued that the troika has no choice but to pay the next loan tranche, knowing that the associated contagion from a sudden unstructured Greek default would be devastating for the entire euro area. Accordingly, Athens has been able to get away with its deficient program implementation
The escrow plan essentially makes bond payments priority over other payments.