EMerging Equity
Drachma
Greek Economic Growth Could Immediately Plunge 25% Following Grexit, S&P Warns
Standard & Poor’s (S&P) has warned that a possible Grexit would bring ‘very significant’ consequences to the Greek economy, and they are putting the odds of an exit at 50 percent, according to a report published on Thursday. The rating agency says that without the support of the Eurosystem, which it estimates at over 70 percent of Greek gross domestic product (GDP), Greece’s payment system … Continue reading
Greece – The Way Out: Troika Involved In “Financial Terrorism”, “Economic Waterboarding” – OpEd
By Peter Koenig What the troika is doing to Greece these days is the pinnacle of financial terrorism. It is economic waterboarding. It is blackmailing of the first degree. These people are neoliberal fascists, putting the Greek government before a dilemma – ‘either you present us with an acceptable list of austerities, or we will … Continue reading
Cracks In The Eurozone: Exit Stage Right (Brexit) And Left (Grexit)
By Jack Rasmus On May 8 the Conservative Party in the UK won an upset electoral victory, gaining an unexpected outright majority of seats in the British Parliament. The big losers in the election were the UK Labour Party and Liberal Party, both of which occupied ‘centrist’ positions in the election, as they both had consistently … Continue reading
Greece Preparing To Miss IMF Payment, Nationalize Banks, Return To Drachma: Telegraph
As Athens tires to negotiate a new bailout deal with its Troika of creditors amid a cash crunch, a drastic ‘Plan B’ by Greece may involve the unprecedented step of missing a payment to the IMF next week, getting rid of the euro, returning back to the drachma, nationalizing its banks and cutting off its banking system from … Continue reading
Grexit: Greece’s Path Out Of The Euro
By Michael Ben-Gad Ever since Greece elected its new Syriza government, there has been growing talk of Greece defaulting on its debt and leaving the eurozone. I’ve been arguing that once Greece achieved a primary budget surplus it would default on its debt since late 2010, when Greece was negotiating its second bailout. This might not … Continue reading
Greece Ready To Say Goodbye To Euro? – OpEd
By Ellen Brown Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.” A return … Continue reading
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