Euro in crisis

In-depth news, commentary and analysis of the eurozone’s debt crisis and its faltering recovery as it struggles with austerity and attempts to regain competitiveness

No need for Captain Euro rescue ride

Single currency is displaying heroic qualities without such help

Comment and analysis

TOPSHOTS Pensioners queue outside a national Bank branch, as banks only opened for the retired to allow them to cash up to 120 euros in Athens on July 1, 2015. The European Union will decide whether to grant Greece a last-minute bailout package to avoid pushing it further towards an exit from the eurozone. Greece failed on the eve to make a 1.5 billion euro ($1.7 billion) payment to the International Monetary Fund, becoming the first industrialised country to do so. AFP PHOTO / LOUISA GOULIAMAKILOUISA GOULIAMAKI/AFP/Getty Images ©AFP
Range of estimates reveals markets’ inability to price political risks
– Ralph Atkins
illustration of EU flag ©James Ferguson
By locking the nation into a failed economic experiment the EU is destroying wealth and stability
– Gideon Rachman
Germany’s critics feel vindicated. This will be stronger if Greece leaves, writes Marcel Fratzscher

Explainer: How to contain Greek contagion

Fears are mounting about how a Greek exit from the euro could affect markets

Euro set for best quarter in four years

Single currency resilient in face of Greece debt crisis

Eurozone inflation dips in June

Price pressures remain weak, showing policy makers’ challenges

Eurozone leaders take co-ordinated gamble

Greeks have come to resent EU interference in their politics

Greece triggers ‘manageable contagion’

Stock and debt markets look no more than bruised

A single currency needs more than treaties and proclamations

Single currencies ultimately succeed or fail only through the support of the people

Euro currency calm counters Greece fears

ECB’s QE seen as a credible backstop to market contagion

Explainer: If Greece leaves the euro

Failure of bailout talks raises fears but would Grexit be so bad?

The road to Grexit and beyond

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

Greek bailout talks postponed to Saturday

Weekend meeting to prepare ‘plan B’ to protect eurozone from Athens default

Greek drama poses long-term risk for euro

Concern that fundamental flaw of single currency exposed

Crisis risk building in Italy and France

Countries seem unable to tackle structural issues

UK would have fared better inside euro

Britain’s membership would have tilted ECB policy towards growth during crisis, says Martin Sandbu

Eurozone recovery picks up pace

France gathers steam as manufacturers show strongest performance for a year

Portugal fears for itself if Grexit occurs

Lisbon’s status as debt exemplar might not shield it

The three perilous options facing Europe

The truth is that whatever decisions are made, all choices could lead to chaos

Eurozone grants Athens another extension

History teaches the deadline will be extended again. Meantime holders of bonds and shares are upbeat

Euro falls after progress on Athens deal

Market refocuses on Fed rate policy as Greek tensions ease

Live — Greek eurozone crisis summit

Finance ministers fail to reach deal ahead of leaders’ meeting

The real challenge is to save the eurozone

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

Appetite for euro reform falters

Eurozone leaders will propose only minor changes to the way the common currency is governed over next two years

Euro pep shows there is life beyond Grexit

Resilience is in contrast to earlier Greece-inspired nerves

Grexit offers the eurozone an opportunity — if it learns its lessons

Bank of Greece warns of ‘painful’ Grexit

Officials play down chance of deal at finance ministers’ meeting

Spain loses immunity to Greek contagion

Despite stellar performance, investors focus on political risks

Greece would not be the only loser from a messy divorce

Peripheral debt hit by Greek tensions

Bond yields jump to highest since November in Italy and Portugal

Merkel puts currency investors on alert

US and eurozone uneasy over single currency’s strength

Germans increasingly resigned to Grexit

Merkel remains publicly committed to a deal with Greece

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