A Greek Tragedy
This is a very Greek-themed episode – Greece has delayed Friday’s €300m (£216m) debt repayment to the IMF. Instead all the four instalments scheduled for June will be combined into a single payment at the end of the month. Large amounts of capital is leaving the country, already in a financial crisis. The Greek Prime Minister Alexis Tsipras warned the country is set to go bankrupt unless it gets an additional bailout loan from its EU creditors. We look at the island of Lesbos, as an example of just how bad the situation is.
We continue to enter a high era of volatility with regard to the Euro, which will get much worse if there is a Greek exit.