It’s time to discuss the next step: the fiscal path until and beyond 2018, debt sustainability and whether debt measures will be needed. The mission chiefs are back in Athens. The priority this week is to agree on contingency measures, which I see as an insurance in the event that the IMF fiscal scenario, which is more conservative than the European one, materialises.
Portfolio equity investment into these five countries almost quadrupled in a single year - 1993. These flows were huge, compared to the size of the domestic financial sectors.