In today’s City AM, Patrick Artus argues why Greece could pull Europe back into recession

PatrickArtusIn this morning’s newspaper, Patrick Artus writes for City AM on Europe’s week of unprecedented events. Bank closures, capital controls, the first IMF default by a developed country, the collapse of a multi-billion-euro bail-out, and, of course, a referendum that may end with a member exiting the single currency has meant that Mr Draghi’s 2012 rhetoric to do “whatever it takes” holds little value in today’s crisis. Artus argues that if Sunday’s referendum fails to find a settlement that suits both the ECB and Greece, then the subsequent decline in the financial markets will not only impact the recovery Europe has made so far, but may also pull the region back in to recession.

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