The Presidential Daily Brief

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    As Europe Sweetens Debt Schemes, Greece Courts Putin

    Is the amphora half full? The European Central Bank’s governing council is set to meet Thursday, reportedly to waive rules and accept Athens’ governmental IOUs as collateral. That would avail Greek banks of cheaper ECB financing, saving some $11 billion. Other recent debt-easing measures include releasing $11.5 billion in bailout funds, shaving interest rates and extending repayments. It’s not the partial debt cancellation the IMF has sought, and clearly not enough to keep Greek premier Alexis Tsipras from cozying up to Vladimir Putin during this weekend’s Athens visit to sign binational trade agreements.

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