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Greece Gambles On “Catastrophic Armageddon” For Europe, Warns It “Only Has Weeks Of Cash Left”
Greece Gambles On “Catastrophic Armageddon” For Europe, Warns It “Only Has Weeks Of Cash Left” One of the bigger problems facing the new, upstart Greek government, which has set before itself the lofty goal of overturning 6 years of oppressive European policies and countless generations of Greek cronyism, corruption and tax-evasion is not so much […]
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 One passenger, he said, told someone on his mobile phone that he’d withdrawn 25,000 euros from the […]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 […]
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece As Deutsche Bank’s George Saravelos politely puts it, “Developments since the Greek election on Sunday have moved very fast.” And indeed, so far the new Tsipras cabinet, and here we focus on the words and […]
Draghi’s Dangerous Bet: The Perils of a Weak Euro
Draghi’s Dangerous Bet: The Perils of a Weak Euro The recent decision by the European Central Bank to open the monetary floodgates has weakened the euro and is boosting the German economy. But the move increases the threat of turbulence on the financial markets and could trigger a currency war. The concern could be felt everywhere […]
ECB Euro QE Won’t Succeed
ECB Euro QE Won’t Succeed The European Central Bank (ECB) leaked the information beforehand to test the waters and this time followed through on their promise: Money printing galore in the form of 60 billion euros per month ($69 billion). ECB president Mario Draghi has been talking about it since 2012 and now finally got […]
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 […]
Operation Helicopter: Could Free Money Help the Euro Zone?
Operation Helicopter: Could Free Money Help the Euro Zone? It sounds at first like a crazy thought experiment: One morning, every resident of the euro zone comes home to find a check in their mailbox worth over €500 euros ($597) and possibly as much as €3,000. A gift, just like that, sent by the European Central […]
The Gloves Come Off: Germany Says Grexit “Manageable” As Tsipras Demands Greek Debt Writeoff | Zero Hedge
The Gloves Come Off: Germany Says Grexit “Manageable” As Tsipras Demands Greek Debt Writeoff | Zero Hedge. With just three weeks until the Greek snap elections on January 25 in which Tsipras’ Syriza is virtually assured of victory (unless somehow G-Pap’s “new and improved” political party manages to steal enough votes to prevent this, although one wonders […]
Euro Forecasters See Pain After Worst Year Since 2005
Euro Forecasters See Pain After Worst Year Since 2005 Midway through European Central Bank President Mario Draghi’s May press conference in Brussels, the euro rose to its strongest level during his tenure. Then he said the ECB was ready to introduce more stimulus measures, sending it into a slide that strategists say will extend into […]
Peak Irony in No-Exit Union: As Grexit Chaos Resurges, Lithuania Joins
Peak Irony in No-Exit Union: As Grexit Chaos Resurges, Lithuania Joins On January 1, 2015, the Eurozone quietly welcomed a new member, Lithuania, to its fold. The former Soviet satellite became the 19th EU Member State to have joined the increasingly beleaguered currency union. According to an opinion poll conducted by Berent Research Baltic on […]
Stability and Prosperity in Monetary Union by Mario Draghi – Project Syndicate
Stability and Prosperity in Monetary Union by Mario Draghi – Project Syndicate. FRANKFURT – There is a common misconception that the euro area is a monetary union without a political union. But this reflects a deep misunderstanding of what monetary union means. Monetary union is possible only because of the substantial integration already achieved among […]
Why Greece’s Spillover Across Euro Area Will Probably Be Contained This Time – Bloomberg
Why Greece’s Spillover Across Euro Area Will Probably Be Contained This Time – Bloomberg. Greece’s flirtation with an exit from the euro in 2011 and two cliffhanger elections in 2012 prompted the darkest days of the debt crisis, halted only by the European Central Bank’s pledge to save the currency come what may. Now, with the […]
BBC News – Europe in 2015: A year of insecurity
BBC News – Europe in 2015: A year of insecurity. For Europe, 2015 will witness another attempt to reach a place of safety. For the past two years European officials and leaders have declared the economic crisis over. In the past six months a sense of foreboding has returned. The dangers are not the same […]
