Post-Summit Briefing

23 March 2015

This briefing following the EU Summit of 19 and 20 March 2015 focused on Greece and its potential exit from the Eurozone (‘Grexit’), the proposals for an Energy Union, the European Semester and the EU’s proposed investment plan. The discussion about Grexit centred on the ‘mini summit’ where a small group of EU leaders discussed the perspectives for Greece with the Greek Prime Minister, Alexis Tsipras. Whereas Janis A. Emmanouilidis, the EPC’s Director of Studies, argued that the likelihood of Grexit was very low, Valentina Pop from the Wall Street Journal suggested that a political accident leading to Grexit (‘Graccident’) was possible. The analyst argued that an eventual compromise is likely to be found that will include elements such as a strong recommitment by Greece that it will continue to try to have a primary surplus and some room for restructuring (e.g. lowering interest rates or giving Greece more time to pay back money).