Karl-Friedrich Israel and Jeff Deist discuss the current situation in Greece from Karl’s perspective as a German. Old hostilities between the north and south in Europe are being inflamed, which calls into question the entire purpose of the Eurozone. Would Greece be better off simply leaving the Euro and resurrecting the drachma? Would the less … Continue reading
By Nick Dearden I’ve just had sight of the latest privatisation plan for Greece. It’s been issued by something called the Hellenic Republic Asset Development Fund – the vehicle supervised by the European institutions, which has been tasked with selling off an eye-watering €50 billion of Greece’s ‘valuable assets’. The fund was a real sticking point … Continue reading
“Greece’s economy grew in the second quarter in a surprise surge just before the standoff between the government and its creditors forced officials to impose capital controls,” Bloomberg reports. Greece’s GDP grew 0.8% in Q2, according to The Hellenic Statistical Authority. The growth came as a surprise to Bloomberg-surveyed analysts, who were expecting to see a … Continue reading
“Germany, which has taken a tough line on Greece, has profited from the country’s crisis to the tune of 100 billion euros ($109 billion), according to a new study,” published on Monday, AFP reports. Each time investors got bad news about Greece, they rushed to the ‘safe haven’ of Germany, with the interest rates on … Continue reading
After five weeks of closure, the Athens Stock Exchange reopened on Monday and immediately the trend went sharply down. Investors do not believe that a recovery of the Greek economy could occur soon. Greece’s stock market reopened after five weeks to the most savage wave of selling in decades, underlining a crisis that’s crippled the … Continue reading
“My father made him an offer he couldn’t refuse. Luca Brasi held a gun to his head and my father assured him that either his brains, or his signature, would be on the contract.” … Continue reading
Dr. Ludger Schuknecht, senior economist at the Germany Finance Ministry, explains his ministry’s viewpoint regarding Greece. This viewpoint essentially holds that Eurozone countries should live within their means; adjust to their debt burdens; and take their reform medicine as needed. If they do so, they will be successful, as illustrated by Ireland, Spain, and Portugal. Greece … Continue reading
Originally posted on Yanis Varoufakis:
Tomorrow’s EU Summit will seal Greece’s fate in the Eurozone. As these lines are being written, Euclid Tsakalotos, my great friend, comrade and successor as Greece’s Finance Ministry is heading for a Eurogroup meeting that will determine whether a last ditch agreement between Greece and our creditors is reached and whether…
The wait will soon be over. Greece submitted a final compromise plan to its eurozone creditors on Thursday, European finance ministers will meet on Saturday to discuss the proposal, and an emergency summit of all 28 EU nations on Sunday will make a final decision on what to do. The summit on Sunday is being … Continue reading
Originally posted on Global News:
FRANKFURT – As things stand now, Greece can’t pay its debts. That’s what more and more people – including now the International Monetary Fund and even, it seems, Germany’s finance minister – are saying. So what to do? Greece’s creditors have indicated they could agree under certain conditions to ease the…