Category: Eurozone Debt Crisis
The analysis published under this category are as follows.
Sunday, July 19, 2015
Was Greece Set Up To Fail? / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
I started writing this on my last night in Athens for now, Wednesday, and had no time to finish it then:
On the eve of my temp absence from this great city, a few things. I could simply extend my stay, which might be slightly cheaper, but A) flights to Athens cost less all the time, and B) I have to go see my mom in Holland, who’s not doing well at all. On top of that, Nicole arrived in Holland last week, and we might as well just fly out back here together in a few weeks.
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Friday, July 17, 2015
Greek People Victims Of Political Games / Politics / Eurozone Debt Crisis
By: SecularInvestor
Last Sunday, we arrived in Greece. We have interviewed since then more than 25 people across the country. We have selected ordinary people, with different jobs, from all ages, both in cities and rural areas. So our research is representative for the whole population. What people told us is staggering, and it becomes worse we compare this with the acts of the government. This is a live report about the government debt crisis.
In general, people describe the current economic situation as hopeless; there is no outlook for growth whatsoever. Everyone agrees that this crisis will go on for many years before the country can see any economic improvement.
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Thursday, July 16, 2015
Euro-zone ‘Plan B’ Needed As Euro One Recession Away From Implosion – David McWilliams / Economics / Eurozone Debt Crisis
By: GoldCore
- Euro is one recession away from implosion – David McWilliams
- Mismanagement of euro “both laughable and terrifying”
- “When economic negotiations stop making economic sense, you should begin to question the motives of the EU”
- Germany is out of control
- Successful British exit will be model for other countries
- Euro membership is now conditional
- “Countries that don’t play ball with Germany will see their banking system used against their democratically elected politicians”
- Investors and savers need “PLAN B”
Wednesday, July 15, 2015
Grexit or Jubilee? How Greek Debt Can Be Annulled / Politics / Eurozone Debt Crisis
By: Ellen_Brown
The crushing Greek debt could be canceled the way it was made – by sleight of hand. But saving the Greek people and their economy is evidently not in the game plan of the Eurocrats.
Greece’s creditors have finally brought the country to its knees, forcing President Alexis Tsipras to agree to austerity and privatization measures more severe than those overwhelmingly rejected by popular vote a week earlier. No write-down of Greece’s debt was included in the deal, although the IMF has warned that the current debt is unsustainable.
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Wednesday, July 15, 2015
The Humiliation and Subjugation of Greece... / Politics / Eurozone Debt Crisis
By: Clive_Maund
Europe is a fascinating place, but not as interesting as it was before the European Union came into existence. Older travellers may recall the fun of going from one European country to another, with each having its own currency and banknotes which you could scrutinize with interest as you relaxed at various cafes or restaurants. The national stereotypes could still easily be found - Frenchmen on bicycles dressed in blue and white striped shirts and black berets pedaling around selling strings of onions, and refusing to speak English on principle even when they understood it, or spending their time productively on four hour lunches or womanizing. Germans with their ruthless efficiency and organization, but who produced great sausages and beer, which they would routinely consume in vast quantities in gigantic steins. They were supposed to be humorless, and were wonderfully personified by Gert Frobe in the classic 60's film Those Magnificent Men in their Flying Machines, who let slip a chuckle when one of his officers crashed a flying machine into a tree, but you certainly can't call the Bavarians in southern Germany humorless, with their oompah bands and their vaguely silly lederhosen - these people are an inspiration to drinkers the world over.
Tuesday, July 14, 2015
European Empire Strikes Back: Germany and the Greek Crisis / Politics / Eurozone Debt Crisis
By: STRATFOR
George Friedman writes: A desperate battle was fought last week. It pitted Germany and Greece against each other. Each country had everything at stake. Based on the deal that was agreed to, Germany forced a Greek capitulation. But it is far from clear that Greece can allow the agreement reached to be implemented, or that it has the national political will to do so. It is also not clear what its options are, especially given that the Greek people had backed Germany into a corner, where its only choice was to risk everything. It was not a good place for Greece to put the Germans. They struck back with vengeance.
Tuesday, July 14, 2015
The Greek Deal From Germany - Reading Between the Lines - Darkness Over the Earth / Politics / Eurozone Debt Crisis
By: Jesse
Perhaps the Greeks made a mistake, and relied too much on rationality, on a belief in a Eurozone in which good sense and reason would prevail. As it was, the Germans were willing to ruthlessly crush the Greek banking system, while the ECB and IMF stood idly by, fomenting a financial panic and humanitarian disaster in order to displace a sovereign government and put an entire nation 'in its place.' We certainly have seen this kind of example made before.
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Tuesday, July 14, 2015
Greece Humiliation; Arrogance; Crucifixion; Demolition of Eurozone Project / Politics / Eurozone Debt Crisis
By: Mike_Shedlock
As I further ponder on the Breathtaking Political Capitulation of Greek prime minister Alexis Tsipras I still seek an explanation for his stunning reversal. Here is a short recap.
Read full article... Read full article...Shockingly Stupid Sequence of Events
I am seldom stunned by political stupidity. In fact, I am surprised when I don't see it.
Monday, July 13, 2015
Syriza Breathtaking Political Capitulation; Tsipras Should Resign / Politics / Eurozone Debt Crisis
By: Mike_Shedlock
Shockingly Stupid Sequence of Events
I am seldom stunned by political stupidity. In fact, I am surprised when I don't see it.
Yet, I have never witnessed a political reversal so shockingly stupid as we saw tonight from Greek Prime minister Alexis Tsipras.
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Monday, July 13, 2015
The Troika And The Five Families / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
Personally, like most of you, I always thought Germany, besides all its other talents, good or bad, was a nation of solid calculus and accounting. Gründlichkeit. And that they knew a thing or two about psychology. But I stand corrected.
The Germans just made their biggest mistake in a long time (how about some 75 years) over the weekend. Now, when all you have to bring to a conversation slash negotiation is bullying and strong arming and brute force, that should perhaps not be overly surprising. But it’s a behemoth failure all by itself regardless.
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Sunday, July 12, 2015
Greece, EU and the Tower of Babel / Politics / Eurozone Debt Crisis
By: Submissions
Athanasios Laspopoulos writes: I remember when I was at school, many years ago, that a course was developed
for the Tower of Babel and a sketch showing a huge Tower building from thousands
of people. As I remember the Tower was building by many countries and different
peoples in order to reach heaven and God. This project because of the
multilingualism and misunderstanding was abandoned. This was the model on
which the EU was based on?? Because as I can see in pictures and the model
the EU is made of, are almost the same. And the funny thing is that in EU
there are multiple states, multiple languages and a relative disconnection
between the members just as it was happening at the Tower of Babel.
Sunday, July 12, 2015
Tsipras Invites Schäuble To Fall Into His Own Sword / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
Too many voices the past few days are all pointing the same way, and I’ve always thought that is never good. A guessing-based consensus, jumping to conclusions and all that. Look, it’s fine if you don’t have all the answers, no matter how nervous it makes you.
What I’m referring to in this instance is the overwhelming conviction that Greece and Tsipras have conceded, given in to the Troika, flown a white flag, you get the drift. But guys, the battle ain’t over yet.
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Sunday, July 12, 2015
Grexit: Montenegro, Ecuador or Bulgaria? / Politics / Eurozone Debt Crisis
By: Steve_H_Hanke
Could Greece adopt the dollar?
In truth, Bulgaria, not the greenback, is the better currency model after Grexit.
What if the eurozone shows Greece the door? There are claims that the creation of a new currency regime in Greece would be fraught with problems. While the practical, technical problems would be relatively small, the political problems could be daunting.
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Sunday, July 12, 2015
"Guerrilla Warfare Against a Hegemonic Power": The Challenge and Promise of Greece / Politics / Eurozone Debt Crisis
By: Ellen_Brown
Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being strangled by a hegemonic power in a financial war that is being waged against us all.
Saturday, July 11, 2015
From Tsipras Proposal to Yellen's Speech / Interest-Rates / Eurozone Debt Crisis
By: Ashraf_Laidi
This afternoon's speech by Fed Chair Yellen at 12:30 Eastern (16:30 GMT/17:30 BST) is expected to reveal her reiteration the message that more will be needed from jobs and inflation before rates lift-off, especially 48 hours before another emergency EU/Greece summit. Yellen's take on the China and Greece issues will undoubtedly be highlighted as to be taken into consideration by the Federal Reserve. Yellen will be asked more on these global issues on Wednesday's semi-annual testimony to Congress (a crucial hour, coinciding with the Bank of Canada decision).
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Saturday, July 11, 2015
Syriza Cruel Hoax on Greek People, Led Like Sheep to Economic Collapse Slaughter House / Politics / Eurozone Debt Crisis
By: Nadeem_Walayat
Syriza presents bailout proposals worse than Greece rejected at the 5th July referendum. The Syriza game theory players 6 month long intensifying black mail of the euro-zone that culminated in the NO referendum to the previous bailout package from the 'evil Troika', who according to Syriza were financial terrorists hell bent on the destruction of Greece, to which end only Syriza were the Greek people's saviors who would prevail with no austerity over the evil Troika.
Friday, July 10, 2015
Greece Crisis - Someone Pull The Plug or This Will End in War / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
I was going to write up on the uselessness of Angela Merkel, given that she said on this week that “giving in to Greece could ‘blow apart’ the euro”, and it’s the 180º other way around; it’s the consistent refusal to allow any leniency towards the Greeks that is blowing the currency union to smithereens.
Merkel’s been such an abject failure, the fullblown lack of leadership, the addiction to her right wing backbenchers, no opinion that seems to be remotely her own. But I don’t think the topic by itself makes much sense anymore for an article. It’s high time to take a step back and oversee the entire failing euro and EU system.
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Friday, July 10, 2015
Forget about Reaching a Deal with Greece, Europe Needs a deal with... Europe! / Politics / Eurozone Debt Crisis
By: Atlantic_Perspective
Mathematically speaking, Greece needs debt relief. There´s no other option. The country can´t pay back its debts. But there is a nasty “but” in this statement...
If Europe lets Greece off the hook, then all the other “emerging Greeces” of the UE will want the same. Far-left governments would start winning elections all over the place, starting with Portugal and Spain - just a few months away from electing a new government. And that would be the end of the European Union.
Thursday, July 09, 2015
Greece Enters Its Crack-Up Boom - The War on Cash / Economics / Eurozone Debt Crisis
By: John_Rubino
The Austrian School of economics has a concept called a “crack-up boom” in which a critical mass of people conclude that their government is actively trying to devalue its currency.
Consumers respond by front-running the government, spending their paychecks immediately in order to convert their soon-to-be-less-valuable money into real things. Merchants, not happy about the sudden influx of suspect currency (and sensing the panic of their customers) hold out for ever-higher prices, causing inflation to spike. But it’s a special kind of inflation, driven not by a sudden increase in the money supply but by collapsing confidence among holders of the currency.
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Wednesday, July 08, 2015
Greece: Act One of a Global Debt Drama - Video / Stock-Markets / Eurozone Debt Crisis
By: EWI
Greek citizens vote "Yes" to kick the can down the road
Editor's note: You'll find the text version of the story below the video.
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