IMF

As the next round of negotiations to try and keep Greece in the European Union get underway, a tangible solution is still not evident, but the sense of despair locally is palpable.

Looking out from the heart of the Cyclades at the glassily calm, crystal clear Agean Sea it takes some imagination to marry this most popular of tourist destinations with the desperation and turmoil that rocks the entire country - islands and all.

We need to distinguish the sovereign state from the people it governs, and the other political institutions between. 

Things are moving so fast in the financial negotiations between Greece and the Troika (European Central Bank, European Union, and the International Monetary Fund) that there is little point in my trying to comment on them. But there is a structural issue which most commentaries overlook.

Iraqi forces march on Tikrit; South Korea slashes interest rates; Thailand-China rubber and rice deal in the works; UN Security Council blasted on Syria response; IMF approves Ukraine loan programme; and more 

TOP OF THE AGENDA

Iraqi Forces March on Tikrit

Children killed in Syrian airstrike on school; Uighur terrorist attack on train station in China; UNESCO criticises Australian decision to allow dredging of Great Barrier Reef; 60 percent of eligible voters turn out for Iraqi election; IMF approves $17 billion loan for Ukraine

Top of the Agenda

Dozens Dead in Syrian Airstrike on School

The IMF's latest assessment of the world's economy contains a surprising policy suggestion. Should we be concerned (again), or is it just another part of the great plan?

If you really thought it was now safe to venture back into the markets now, then it is probably best that you don't read on.