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The Greek crisis has just experienced another thrilling week. During this week, people from all walks of life in Europe have spoken out about the progress and prospects of the Greek issue. But the real prospects remain to be determined at the weekend's special EU summit.

Writing down Greece’s debt may turn long-term pain into short-term pain, but Germany is determined not to comply

As the Greek crisis is about to showdown at the EU summit on Sunday, Greece Debt sustainability is gaining more attention, with debt restructuring a key sticking point in negotiations. More and more voices are calling for Greece to restructure its debt. In any case, German taxpayers will suffer losses, and debt restructuring is the least damaging option.

The yields on government bonds of second-tier euro zone countries fell, affected by the reform plan submitted by Greece

The yields on the government bonds of Italy, Spain and Portugal fell by as much as 10 basis points on Friday (May 1). Greece had previously submitted a package of reform plans to euro zone creditors in a last-ditch effort to obtain funds and avoid bankruptcy. Italian and Spanish government bond yields each fell 1 basis point to .%. Portuguese government bond yields fell 1 basis point to .%.

The UK’s monthly merchandise trade deficit narrowed to the lowest in the past two years due to a drop in ship imports

Data released by the UK Office for National Statistics on October 1 showed that the UK’s monthly merchandise trade deficit exceeded expectations. It narrowed to the lowest level in nearly two years, mainly due to a decline in ship imports, but the monthly deficit was revised upward. Specific data shows that the UK's monthly goods trade deficit narrowed to 100 million pounds more than expected, the lowest level in the past year. The previous value was revised up from a deficit of 100 million pounds to a deficit of 100 million pounds.

How easy is it to switch to new currency? A comprehensive view of the impact of Greece's exit from the EU

Greece is now at an important decision point. If Greece cannot reach an agreement this week, perhaps the Greek government will issue a new currency. Issuing new currency takes a lot of time and effort, and its results are difficult to predict. Economists say the issuance of a new currency may be an opportunity for Greece to start over.

The risk of a Greek exit from the European Union has risen to more than half, but the risk of contagion is less than before

After long-term belief that the probability of Greece exiting the euro zone is low, Tokyo Mitsubishi UFJ currently believes that a Greek exit The probability of Europe is about %. The ultimate fate of the Greek situation is obviously unknown, but what is certain is that the risk of debt contagion is obviously less than when the Greek crisis broke out at the end of the year.

Greece’s latest reform plan proposes debt restructuring and promises to reduce pensions

On March 2, Greece submitted its latest reform plan to euro zone creditors, saying it would save the equivalent of % value of pension. It also proposed a debt restructuring and requested a 100 million euro growth plan.

Greece submitted a reform plan to the European Union and promised to increase several tax rates

On March 1, Greece proposed a plan in the hope of obtaining a third round of bailout. The Greek government will increase shipping companies’ rates, and remove the VAT relief given to islands. The Greek parliament will vote on authorizing the implementation of preemptive measures. Schäuble acknowledged that Greece needs to restructure some of its debt.