“Mr. Mitsotakis, who was quickly sworn in on Monday and was expected to name his cabinet later in the day, will need to win over those who believe he lacks the competence to deal with the complexities of Greece’s huge economic and social challenges.” – by Matina Stevis-Gridneff
Best Reads
Greece Liked to Underestimate Kyriakos Mitsotakis. Now He’s Prime Minister (New York Times)
Sea Change (Bank of England)
“A No Deal outcome would result in an immediate, material reduction in the supply capacity of the UK economy as well as a negative shock to demand. There is little monetary policy can do to offset the former. A major negative supply shock is extremely unusual in advanced economies – the last one was the […]
H2O Asset Management: Illiquid Love (FT)
“To those who have followed the firm’s investment strategy closely, Bruno Crastes’s relationship with Lars Windhorst is certainly no secret either. For years, H2O Asset Management has been a notable financial supporter of Mr Windhorst’s fundraising efforts. This included investments in his ill-fated €1bn Sapinda Invest bond which failed to pay its scheduled coupons on […]
Populism, The European Elections, and The Future of E.U. Foreign Policy (War on the Rocks)
“The most dangerous outcome of populist influence in the European Parliament is that the European Union will become paralyzed and irrelevant on the international scene, assuming the European populists are not able to develop a coherent project aimed at founding an alternative European Union.” – by Maya Kandel and Caroline Gondaud
European Parliament election results: The long view (Bruegel)
“The implications are quite clear. The rise of the far right in 2019 is notable and unprecedented. So is the fall in the traditional Volkspartei combination of centre-left and centre-right, namely EPP and the Socialists & Democrats (S&D).” – by Nicolas Véron
Theresa May resigns after Brexit failure (FT)
“UK prime minister to continue in caretaker role as Tory leadership contest kicks off.” – by George Parker, Jim Pickard, and Sebastian Payne
What is in store for the EU’s trade relationship with the US ? (Bruegel)
“If faced with a resurgent President Trump after the next US election, the EU will have some difficult decisions to make as it is compelled to enter a one-sided negotiation. Failure to strike a deal will imperil the world’s largest trade relationship and contribute to the progressive unravelling of the rules enshrined in the World […]
Why British Steel is hoping to avoid scrapheap (FT)
“Plant set to keep trading but outlook is clouded by deep-rooted problems.”- by Michael Pooler, Andy Bounds and Chris Tighe
Arcadia restructuring: who holds the power? (Drapers)
“The group, owned by fashion retail mogul Sir Philip Green, was expected to announce plans for a CVA last week. However, proceedings have slowed as Arcadia continues to lobby for the requisite approval from 75% of creditors.” – by Grace Whelan
Spain’s Socialists score big election victory (Politico)
“Spanish Prime Minister Pedro Sánchez’s Socialists scored a big victory in Sunday’s national election, though they will still have to seek coalition agreements to stay in power.” – by Diego Torres