This tag is associated with 39 posts

Greece Threatened With Pain As New Hedge Fund Trade Emerges

As press reports emerge that Yanis Varoufakis was encouraged to resign his post as Greek finance minister due to his statement saying a “parallel currency was an option,” bank reports paint a picture of pain ahead for Greece. But amid the fury a potential replacement for the often outspoken Greek finance leader could be emerging: … Continue reading

Forget Greece; Puerto Rico Is The Debtor Americans Need To Watch

Originally posted on Kyle Wingfield:
People celebrate the outcome of the bailout deal referendum at Syntagma Square in Athens, Greece, July 5. (Eirini Vourloumis / The New York Times) Greece is in the headlines today, after voters there rejected the “austerity” measures other European nations had demanded in exchange for yet another bailout of the…

Wall Streeet Pro: Buy Greek-Inspired Dip, Just Not Yet

Originally posted on America's Markets:
An elderly woman waves the national Greek flag as she joins supporters of the Syriza party and of the ‘No’ vote campaign, gathering after results of the referendum in front of the Greek Parliament in Athens, Greece, 05 July 2015. Greek voters resoundingly rejected bailout terms in Sunday’s referendum.…

Paul Krugman at NYT: Ending Greece’s Bleeding

Originally posted on lindsayonvietnam:
Paul Krugman: “The truth is that Europe’s self-styled technocrats are like medieval doctors who insisted on bleeding their patients — and when their treatment made the patients sicker, demanded even more bleeding. A “yes” vote in Greece would have condemned the country to years more of suffering under policies that haven’t…

Greece Votes NO – Let The Chaos Begin…

The result of the referendum in Greece is a great victory for freedom, but it is also threatens to unleash unprecedented economic chaos all across Europe. By Michael Snyder With almost all of the votes counted, it is being reported that approximately 61 percent of Greeks have voted “no” and only about 39 percent of Greeks … Continue reading

‘No Reason Why Greece Could Not Have Two Currencies’ – A Euro Architect

Today we still use an industrial age monetary construct while we have technologies to do things differently. Greece could create a precedent with a different way of addressing economic problems, says one of the architects of the euro, Bernard Lietaer. RT: You were one of the people who helped bring about the birth of the … Continue reading

Crisis In Athens Enters New Chapter As Greece Becomes First Developed Nation To Default On Debt

Greece has become the first developed nation to default of its international debt obligations as the International Monetary Fund (IMF) confirmed on Tuesday night that it did not receive the €1.55 billion ($1.73 billion) payment from Athens that was due by the end of June 30, Brussels time. The Crisis in Greece has entered a new chapter … Continue reading

A Tremendous Financial Devastation Is Taking Place Globally: Here Are 16 Facts

By Michael Snyder As we enter the second half of 2015, financial panic has gripped most of the globe.  Stock prices are crashing in China, in Europe and in the United States.  Greece is on the verge of a historic default, and now Puerto Rico and Ukraine are both threatening to default on their debts … Continue reading

Greece Is Not Alone: Puerto Rico Bonds Tumble As Governor Calls For Debt Relief

“Prices on Puerto Rico’s newest general obligations sank to record lows after Governor Alejandro Garcia Padilla said investors should be prepared to sacrifice if they want the cash-strapped island’s economy to grow,” Bloomberg reports. “With two days left in Puerto Rico’s fiscal year, the commonwealth is struggling to pass a budget that would allow it … Continue reading

85% Grexit Odds With ‘Massive’ Contraction, Ex-PIMCO CEO El-Erian Says

According to former CEO of PIMCO, Mohamed El-Erian, Greece is heading for a “massive economic contraction” and will likely be forced out of the euro zone. On Sunday, Greece imposed capital controls, shut its banks, and closed its stock markets until further notice to avert a collapse of its financial system following Greek Prime Minister Alexis Tsipras’s shock announcement late … Continue reading

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