Greece, Troubles and Hopes
August 11, 2015
Headlines report that Greece has reached an agreement with creditors on a EU86bn bailout. According to our Global Asset Allocation Research team, the main open issues are how much debt relief will be incorporated as part of any agreement, and what form it will take. If a new programme for Greece is designed with a return to growth as a primary objective, things could surprise on the upside. Greece is not yet a lost cause, it is a laboratory for Europe of economic and institutional policy. There is indeed reason for hope, but the outcome remains uncertain.