Germany shifts on IMF aid to Greece
Germany may be inching closer to acquiescence of an IMF assistance package for Greece, should the country fail to raise money on world markets, the Financial Times reports. The shift is apparently due to both legal and political concerns about allowing a euro-area bailout. A day ago, the FT reported that Italy, Finland and the Netherlands were now openly supportive of IMF assistance to Greece. It is worth noting that the FT and The Economist have, in editorials and Op/Ed pieces, supported IMF involvement in the eurozone, in contrast to continental European political positions.
Yesterday was a bad day for the euro and the Athens Exchange: "The FTSE All-World equity index fell back 0.4 per cent from eight-week highs and the euro came under heavy pressure. The costs of insuring eurozone so-called peripheral economies against default were pushed sharply higher, and the Athens stock market fell 3.4 per cent."
FT article: http://www.ft.com/cms/s/0/414787b0-3259-11df-bf20-00144feabdc0.html
New tax bill
Kathimerini reports on the new tax bill unveiled yesterday in parliament.