What Happens If The Black Sheep Band Together?

By Derek Hunter

On Wednesday April 8th, Greek Prime Minister, Alexis Tsipras, and Russian President, Vladimir Putin met in Moscow at a time when their interests were uniquely intertwined. Russia, of course, is still subject to broad sanctions for its role in the Ukraine civil war, while Greece faces its bailout extension deadline in June. Greece is facing the prospective of another refinancing with significant austerity measures that are politically unpopular at home. While it is unlikely, as the Financial Times reports, Greece could be courting Russia as an alternative source of financing should an EU bailout prove unpalatable.