Greece: “good luck for the next restructuring…”

As the euro crisis rumbles on, confirmation, if any were needed, that Greece is, indeed, heading back to the polls.  You can follow further developments on the Guardian’s live-blog.  Meanwhile, having cajoled the vast majority of their private sector creditors into taking part in a bond swap deal in March, the Greek government [who? – Ed] outgoing prime minister technocrat-in-chief, Lucas Papademos, has opted to pay up, on a May 15 due bond, to those who held out at the time.  …

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Time for Europe’s ‘pusillanimous politicians’ to do the right thing?

Right, stop me if I’ve got this wrong, but it seems to me that Ireland faces two big problems: bank liquidity; and a debt mountain (which has just got way bigger). In order to service the first, the second (whilst already large due to a massive fall in tax receipts) has been made unfeasibly high (how’s that small panic attack going Robert?). The Economist has an obivious solution, but one that is not going to popular with European heads of …

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