The Telegraph spotlights Brexit dangers posed by debt talks between Greece and its embattled creditors as they meet to discuss the 86-billion-euro bailout package approved last summer. The British newspaper points to the looming Brexit referendum in the UK, that coincides with Greece’s payment deadlines in July: 300 million euros to the International Monetary Fund and 2.3 billion euros to the European Central Bank.
All eyes are on the emergency Eurogroup meeting of Eurozone finance ministers in Brussels on Monday as they focus on contingency measures for Greece requested by the International Monetary Fund should Greece miss its 2018 targets of savings at 2 percent of the GDP.
British economist David Owen says that a Brexit risk would give the EU and the IMF “far more to worry about than whether Greece stays in the euro area,” however he is optimistic that a compromise will be achieved.
The same article points to Citi analysts that predict that all sides negotiating Greek finances are interested in avoiding negotiations dragging into June, close to the UK referendum.
Meanwhile, Capital Economics analysts state that data to be released on Friday will show that the economy started in 2016 on a weak note with declines in retail sales and industrial production and a shrinkage of 1 percent in the first quarter.
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