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…
Originally posted on Financial Post:
It is hard to imagine anything could overshadow a looming Greek exit from the eurozone, but leave it to China to do it. Analysts and economists everywhere Wednesday morning are now pointing to the ongoing crash of Chinese stocks as a huge new threat to global stock markets. “The growing…
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
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.…
Originally posted on On Vietnam and the World:
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…
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
Originally posted on Financial Post:
If Greece leaves the eurozone, Russia will enter it, casting a chill over Europe The world is focused on the immense implications of a Grexit, or an exit of Greece from the European Union. It might also consider the immense implications of a Grentrance, or an entrance into Greece of…
“Greece’s finance minister will hold talks with top Greek bankers later on Sunday, a Finance Ministry official told Reuters, after opinion polls showed Greeks were on course to reject a bailout proposal from creditors,” ekathimerini reports. Third of all votes counted ‘No’ votes ahead with 60.9%, according to Bloomberg. With 59.3% of votes counted, NO: 61.1%. … Continue reading
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
Debt relief ought to be at the centre of negotiations over a New Deal for Greece. That has been our government’s mantra from 26th of January, our first day on the job. Exactly five months later, on 26th of June, the IMF has conceded the point (as evidenced earlier today by the NYT) – on … Continue reading