The road to Grexit and beyond

Matt Kenyon illustration
©Matt Kenyon

Tsipras was right to walk away. But it was a momentous decision

Eurozone heads for rupture

The creditors programme would have brought about total economic destruction

The real challenge is to save the eurozone

Grexit would be the point when the EU moves from integration, via stagnation, to disintegration

Greece has nothing to lose by saying no to creditors

If it were to default on its official-sector debt, France and Germany stand to forfeit €160bn

Two dismal economic plans for Greece

Without reform the country cannot co-exist with northern Europe in a monetary union

Why Britain has no chance of EU treaty change

Germany will boycott meaningful reforms for as long as its economy benefits from the status quo

The fate of Greece lies in Tsipras’s hands

If the deal offered by the country’s creditors is reasonable, the prime minister should accept

Simple core to Grexit and Brexit issues

The European problems of Greece and Britain involve no innate difficulty

EU and Great Britain flag next to each other.

What Cameron’s win means for Europe

Nobody can predict the outcome of the UK’s in-or-out referendum this far in advance

EU and Great Britain flag next to each other.

All British parties are eurosceptic now

The real divide is not between Labour and the Conservatives, it is between the UK and Europe

The real threat to Europe lies in Ukraine

A failed state or further annexation by Russia would dwarf fears over Grexit

Greek default necessary but Grexit is not

Defaulting on the IMF and ECB is the only route to short-term relief but nobody has ever done it

Macroeconomists need new tools

For the moment, the traditionalists still rule

Tsipras will not find salvation in Moscow

Putin will be aware how many billions of euros eurozone members have sunk into Greece

Eurozone’s real problems are hidden

The most important adjustment that needs to take place is a convergence of prices and labour costs

Eurozone QE relies on a confidence trick

Programme’s impact unknown without evidence of how the policy transmits to the real economy

Smoke and mirrors safer than cold turkey

Grexit may well work in the long run but it will bring economic misery in the short term

Danger of Mitteleuropa’s financial sector

At zero interest rates, it is very difficult for the German insurance industry to remain solvent

Europe puts future at risk playing safe

There exist perfectly rational reasons to op­pose membership both of the eurozone and the EU, writes Wolfgang Münchau

Let the Greek debt battle begin

There are creative solutions to the fiscal fight that now matters the most, writes Wolfgang Münchau


Wolfgang Münchau Wolfgang Münchau is an associate editor of the Financial Times, where he writes a weekly column about the European Union and the European economy. Before taking up this position in September 2003, he was co-editor of Financial Times Deutschland for two years.

Before joining FT Deutschland, Mr Münchau was a Frankfurt correspondent and later economics correspondent of the Financial Times, reporting on the preparation for the final stage of monetary union and the launch of the euro.

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