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Privately Owned Greek Media Line Up With The One Percent Against The Greek People
Privately Owned Greek Media Line Up With The One Percent Against The Greek People The latest report from Greece indicates that the privately owned Greek media have taken a stand against the Greek people and for the One Percent: Yesterday’s demonstration in favor of ‘No’ in Syntagma Square of Athens had gigantic proportions and great […]
The People Must Be Overthrown
The People Must Be Overthrown Perhaps I should apologize for writing about Greece all the time. Thing is, not only have I just arrived in Athens last night (and been duly showered in ouzo), but Greece is the proverbial early harbinger of everything that’s wrong with the world (not to worry, I know that’s a […]
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On Talks between Greece and creditors collapsed on Sunday after Athens once again refused to compromise on a the pension cuts and VAT hike the troika insists are necessary if the country is to receive the final tranche of aid from its second bailout program. We noted […]
Greece Admits It Will Not Make IMF Payment On Friday, No Deal Expected Wednesday
Greece Admits It Will Not Make IMF Payment On Friday, No Deal Expected Wednesday For days, Greek officials have been insistent that the country will make a €300 million payment to the IMF this Friday and thus avoid a default. Last month, we heard the same rhetoric out of Athens and as it turns out, […]
The Pressure Just Shifted from Greece to the US and EU
The Pressure Just Shifted from Greece to the US and EU With the 3rd US Q1 GDP print coming in at -0.7% (-3% if not for inventories), perhaps the media spotlights – and lively imagination – can move away from Greece for a few weeks. The US has enough problems of its own, it would […]
Greece Will Default On June 5 Without Deal, IMF Leaks
Greece Will Default On June 5 Without Deal, IMF Leaks Another week came and went with no breakthrough in negotiations between Greece and its creditors. The IMF is now fed up and has reportedly refused to be a part of any new bailout program for Greece, after Athens drew down its SDR reserves to makes its latest […]
Greece Effectively Defaults To IMF Using SDR Reserves To “Repay” Fund; 1 Month Countdown Begins
Greece Effectively Defaults To IMF Using SDR Reserves To “Repay” Fund; 1 Month Countdown Begins When Monday’s Eurogroup meeting concluded without an agreement between Greece and its creditors, it should have been game over for Athens. With pensioners at their breaking point and with local governments reluctant to comply with a decree mandating a sweep […]
The Greek “White Knight” Emerges: Putin To Give Athens €5 Billion For Advance Gas Pipeline Fees
The Greek “White Knight” Emerges: Putin To Give Athens €5 Billion For Advance Gas Pipeline Fees With Greece teetering on the edge of insolvency and forced to raid pension and most other public funds, ahead of another month of heavy IMF repayments which has prompted even the ECB to speculate Greece should introduce a parallel “IOU” […]
The Thucydides Trap or the Coming War with China
The Thucydides Trap or the Coming War with China Editor’s Note: Bill is still up on the family ranch in northern Argentina. And his satellite Internet link is down. So there is no new update from him today. Instead, we republish a classic piece from Bill on the potential for a war between the US […]
Eurasian Pivot? Moscow Expects “Progress” From Tsipras Visit
Eurasian Pivot? Moscow Expects “Progress” From Tsipras Visit As Athens prepares to try and convince eurozone creditors that its latest set of proposed reforms represents a credible attempt to address Greece’s fiscal crisis, and as Greek depositors face the very real possibility that they will soon be Cyprus’d, a leverage-less Alexis Tsipras faces a rather unpalatable […]
As Greek Default Fears Return, Government Considers “Borrowing” Pensions To Repay IMF
As Greek Default Fears Return, Government Considers “Borrowing” Pensions To Repay IMF Greek short-term default risk jumped over 300bps today putting the odds of a restructuring at 50-50 within the next year as the warnings we issued last week with regard Greece’s imminent default on its IMF loan loom. Seeking to reassure its lenders (and avoid yet more […]
How Far Is It From Kiev To Athens?
How Far Is It From Kiev To Athens? Riddle me this, Batman. I don’t think I get it, and I definitely don’t get why nobody is asking any questions. The IMF and EU make a lot of noise – through the Eurogroup – about all the conditions Greece has to address to get even a […]
50 Shades of Greece
50 Shades of Greece When it comes to the ongoing Greek question, I see a lot of people eagerly jump to conclusions, after the ‘debt deal’, that I don’t think are justified; certainly not yet. The overall conviction in the press seems to be that Syriza has given in on just about all fronts, and […]
Athens vs. Brussels: Greece Inches Closer to Renewal of Debt Crisis
Athens vs. Brussels: Greece Inches Closer to Renewal of Debt Crisis The new government in Athens is intent on forcing Europe to change its approach to Greek debt — thus far in vain. A confrontation is brewing, and both sides stand to lose. After new Greek Finance Minister Giannis Varoufakis had been repeatedly rebuffed on his […]
Athens vs. Brussels: Greece Inches Closer to Renewal of Debt Crisis
Athens vs. Brussels: Greece Inches Closer to Renewal of Debt Crisis After new Greek Finance Minister Giannis Varoufakis had been repeatedly rebuffed on his introductory tour of European capitals, he opted for flattery and solicitation during his visit to Berlin last week. German Finance Minister Wolfgang Schäuble, Varoufakis said, had been an object of his admiration […]
