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Tag Archives: eurozone
Greece: Greenspan predicts exit from euro inevitable
Greece: Greenspan predicts exit from euro inevitable The former head of the US central bank, Alan Greenspan, has predicted that Greece will have to leave the eurozone. He told the BBC he could not see who would be willing to put up more loans to bolster Greece’s struggling economy. Greece wants to re-negotiate its bailout, […]
Why the Beautiful New Greek Government Is Screwed
Why the Beautiful New Greek Government Is Screwed Greek Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis, often in a good-cop-bad-cop manner, have been cruising through the media, lobbing a mix of admirable rhetoric, verbal hand grenades, and down-to-earth explanations. And they have become white-hot media darlings. So Varoufakis was in Germany to meet […]
Greece Exposes The Global Economy’s Achilles Heel
Greece Exposes The Global Economy’s Achilles Heel Countries that can’t repay their debts — won’t The new Greek political party, known as Syriza, the Coalition of the Radical Left, has done the unthinkable: they’ve dared to speak the truth. In this case, the truth is perfectly captured by the blunt assessment by the new Greek […]
Greek and German finance ministers clash at debt relief talks
Greek and German finance ministers clash at debt relief talks No agreement to disagree on Athens’ debts as Varoufakis brings up spectre of Greek nazism and Schäuble offers 500 German tax collectors Greece’s radical Syriza government remained locked in a bitter standoff with its German paymasters, as finance minister Yanis Varoufakis issued a stark warning […]
Greeks Spooked by Debt Clashes Put Cash Under Bathroom Tiles
Greeks Spooked by Debt Clashes Put Cash Under Bathroom Tiles (Bloomberg) — Georgios Karavelas drives a taxi in Athens and for the past month has been a silent witness to what ordinary Greeks are doing with their cash. One passenger, he said, told someone on his mobile phone that he’d withdrawn 25,000 euros from the […]
Greece and the EU – Nothing But Political Theater?
Greece and the EU – Nothing But Political Theater? Varoufakis’ Tour of Europe Greece’s new finance minister Yanis Varoufakis has toured Europe, trying to drum up support for – actually, we’re not quite sure what for exactly, as the precise nature of the Greek government’s demands is currently in flux (this is a parallel […]
Huge Madrid march in support of anti-austerity party Tens of thousands take to the streets of Spanish capital in support of Podemos. Tens of thousands of people have marched in Madrid in support for anti-austerity party Podemos, whose surging popularity and policies have drawn comparisons with Greece’s new Syriza rulers. On Saturday, protesters chanted “Yes […]
Greek election: It’s really up to the ECB and EU now
Greek election: It’s really up to the ECB and EU now The result was worse than expected whatever the final outcome – the anti-austerity vote is massive, but it could be an empty gesture as Greece in reality has little choice: Comply with the Troika or leave the EUR. I doubt the later will happen […]
Syriza Leads In 6 Polls; Leader Tsipras Shuns Merkel, Says “Won’t Honor Commitments”
Syriza Leads In 6 Polls; Leader Tsipras Shuns Merkel, Says “Won’t Honor Commitments” With the leads in at least six polls (of between 4% and 10%), Syriza leader Alexis Tsipras has come out swining for the anti-EU vote this morning: *TSIPRAS SAYS ONLY SYRIZA CAN END GREECE’S CATASTROPHIC COURSE *TSIPRAS SAYS WON’T HONOR COMMITMENTS MADE BY PREVIOUS […]
Oh, Greece!
Oh, Greece! Greece’s bailout program is not working. After receiving hundreds of billions of Euros in new loans to stave off a sovereign default, Greeks are on the verge of electing a new government that may throw Eurozone politics into turmoil. From the outset, this was always going to be a tricky one for European […]
Macro Digest: Endgame for central bankers
Macro Digest: Endgame for central bankers The Swiss National Bank’s removal of the franc’s peg to the euro last week had far-reaching consequences because we were all taken by surprise. The fact that it would (and should) happen eventually was not lost on the market, but the SNB was as late as last week end […]
Swiss National Bank scraps euro cap
Swiss National Bank scraps euro cap (Reuters) – The Swiss National Bank unexpectedly scrapped its cap on the franc on Thursday, sending the safe-haven currency crashing through the 1.20 per euro limit it set more than three years ago. Minutes after the announcement the franc had soared by almost 30 percent in value against the […]
Low inflation should not be feared, says George Osborne
Low inflation should not be feared, says George Osborne The sharp fall in the UK inflation rate should not be feared, Chancellor George Osborne will say in a speech later. “We should not confuse this welcome news with the threat of damaging deflation that we see in the eurozone,” he will say in a speech. […]
Deflation and the eurozone: why falling prices aren’t always good news
Deflation and the eurozone: why falling prices aren’t always good news As oil prices continue to fall, a strange phenomenon is making its presence felt across Europe: deflation. Familiar in Japan since the 1990s, consistently falling prices for the goods we buy are almost unheard of in Europe, not seen since the grim years of […]
And That Successfully Concludes “Big Brother 101”
And That Successfully Concludes “Big Brother 101” Desperate to spin Europe’s deflation, pardon “negative inflation” pardon the lack of impulse to go ahead and spend money you don’t have right here right now, into a good, if only for Keynesians, thing? Don’t worry – we’ve got you covered. Below is a sampling of perfectly contradictory Reuters headlines all posted within a […]
