Greece is far from being Europe’s only problem

So Greece has been saved. Again. But Europe's problems are far from over. Even if the deal is approved, there's the small matter of a Europe-wide recession to worry about. John Stepek explains.

I don't know about you, but I try to avoid giving binding commitments at 2:00 in the morning. Agreeing to anything important when you're that tired and grumpy and had that much to drink is just asking for trouble.

Yet European leaders seem to be in the habit of concluding big bail-out deals in the wee small hours. It's the last negotiator standing' tactic. Everyone gets so fed up and tired and has invested so much time and energy that they'll agree to anything, just to get back to bed.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.