RAPID RESPONSES

Grexit postponed

[Re: Greece jumps out of the fire and straight into the frying pan, yesterday]

Many of the reform measures in the Memorandum of Understanding haven’t been implemented and never will be. Part of Greece’s debt could be paid off by privatising the power utility, the two major ports and the railways. Unions, however, put a stop to such action. It would’ve been better if Syriza had won. Its promises to break the Memorandum, hire another 100,000 workers, and nationalise the shipping industry would’ve made it so much easier to show Greece to the door. Now, when it does finally leave, it will be in the middle of bailing out Italy and rising debt levels in France – the worst possible time.

Den Bottomley

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Piles of idle money

[Re: SME growth stopped by new credit crunch, yesterday]
Banks remain the most significant source of external finance for small firms, but they’re not the end of the road. This is especially true for the very smallest firms, which can be left high and dry for funding due to their inability to show a strong profit record. Alternatives exist; innovative solutions, like crowd funding, are increasingly supported.
But they’re of little use if there is a lack of awareness surrounding these initiatives. If we can’t get the right information to banks and businesses, we could end up watching ever larger piles of money sitting idle. Information is the true currency of finance.

Manos Schizas, senior policy adviser at the Association of Chartered Certified Accountants.

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TOP TWEETS

Andrew Lilico has it right on the nose. Credit growth requires viable customer projects, but also sensible regulation.
@thomasjralph

Syriza or no Syriza, the Greek poll won’t change the law of maths. Greece is still going to default. The sooner, the better.
@DouglasCarswell

Tesco Japan is over. Will its US venture be next as it focuses on its core business?
@StaceyRetail

Ridiculous hysteria over Islamists winning in Egypt. It was the secular dictators who destroyed the country over six decades.
@saifedean