Greece to Keep Banks Closed Monday


Greece to Keep Banks Closed Monday
BY BRIAN BLACKSTONE AND NEKTARIA STAMOULI
The Wall Street Journal Europe
Jun 29 2015

FRANKFURT—Greece will keep its banks closed on Monday in a bid to prevent its banking system from collapsing, a banking official said, after the European Central Bank moved to cap the amount of emergency loans it provides for the country’s cashstrapped…read more…

Fringe parties in eurozone cheer Tsipras’s stand


Fringe parties in eurozone cheer Tsipras’s stand
BY MATT MOFFETT
The Wall Street Journal Europe
Jun 29 2015

MADRID—When Spain’s far-left party Podemos called a rally to back Greece’s embattled government in its showdown with creditors, Francisco Ramon said he felt duty bound to drop what he was doing and turn out. “What’s happening in Athens now is decisive…read more…

PBOC Struggles to Find Balance With Rate Cut


PBOC Struggles to Find Balance With Rate Cut
BY LINGLINGWEI
The Wall Street Journal Europe
Jun 29 2015

BEIJING—As the past trading week drew to a close, the People’s Bank of China was getting increasingly nervous about the money evaporating from Chinese stocks after an effort to rein in shares backfired. Just a week or so earlier, China’s central bank…read more…

U.S. Island Has No Easy Path Out of Debt Crisis


U.S. Island Has No Easy Path Out of Debt Crisis
BY NICK TIMIRAOS
The Wall Street Journal Europe
Jun 29 2015

Its economy has been mired in recession for years. The public is fed up with austerity. Investors want big premiums to lend to a government deep in debt, with no ability to devalue its currency. Greece? Try Puerto Rico, the U. S. commonwealth whose…read more…

Greece’s European Identity at Stake


Greece’s European Identity at Stake
By Simon Nixon
The Wall Street Journal Europe
Jun 29 2015

The history of Greece is filled with major disasters and impressive recoveries. Even its birth in 1832 was a triumph over the odds, assisted by the decision of the U.K. and France to come to the rescue of an independence movement on the brink of…read more…

European Leaders Unmoved by Greek Plea for Support


European Leaders Unmoved by Greek Plea for Support
BY ANTON TROIANOVSKI
The Wall Street Journal Europe
Jun 29 2015

BERLIN—Athens implored Europe over the weekend to support a Greek referendum next Sunday on creditors’ bailout proposals, but much of the Continent responded with a quicker verdict of its own: enough already. In Germany, Greece’s biggest creditor,…read more…

First Red Ink, Then Call for Referendum


First Red Ink, Then Call for Referendum
BY NEKTARIA STAMOULI AND MARCUSWALKER
The Wall Street Journal Europe
Jun 29 2015

ATHENS— Greek Prime Minister Alexis Tsipras began leaning toward a risky referendum after creditors covered his proposed policies in red ink, according to people close to him. It was on Tuesday that the International Monetary Fund, European Central…read more…

Greece at Brink Puts Optimism To the Test


Greece at Brink Puts Optimism To the Test
By Tommy Stubbington, Brian Blackstone and Juliet Samuel
The Wall Street Journal Europe
Jun 29 2015

A weekend of high-stakes decisions in Greece’s debt negotiations cast doubt over investors’ recent optimism that Athens will eventually strike a deal with its creditors. On Sunday, the Greek parliament approved a referendum for July 5 on whether to…read more…

Greece: Question but No Answer


Greece: Question but No Answer
— Richard Barley
The Wall Street Journal Europe
Jun 29 2015

Greece has entered the Twilight Zone. The weekend’s dramatic decision by the Greek government to call a July 5 referendum on whether to accept spending cuts and tax rises proposed by creditors has already had huge consequences, including the closure…read more…

China Rate Cut Hacks a Risky Path


China Rate Cut Hacks a Risky Path
Alex Frangos
The Wall Street Journal Europe
Jun 29 2015

It didn’t take much for the People’s Bank of China to blink. After Chinese stocks cratered Friday—the culmination of a 10-trading-day run that erased nearly one-fifth of the stock market’s value—China’s central bank sprang a surprise quarter-point…read more…