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Greece: The devil will be in the detail

22 June 2015

5:04 PM

22 June 2015

5:04 PM

The Greek economy minister Giorgos Stathakis has told Robert Peston in an interview that the deadlock between Athens and its creditors has been broken, that $7.2 billion of funds should soon be released enabling the IMF to be paid at the end of the month. But this judgement seems distinctly premature.

First of all, the technical negotiations have yet to take place — and it is all too easy to see how a deal could fall apart then. While the IMF tends to take a tougher line than the European Commission and so might not sign off on this deal. It is also worth remembering that there have been times when the Greek view of what has been agreed has differed distinctly from that of the rest of the Eurozone.


So, don’t believe a deal has been done on Greece until it is signed, sealed and delivered.

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