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Why Grexit is the most likely outcome
Why Grexit is the most likely outcome Ahead of Greece’s referendum on a bailout plan in early July, EU decision makers, including Eurogroup Chairman Jeroen Dijsselbloem, warned a “no” vote might lead to Greece’s exit from the Euro. After Greece’s overwhelming “no”, and Eurozone leaders’ latest ultimatums, there are a number of factors that indicate […]
Europe is blowing itself apart over Greece – and nobody seems able to stop it
Europe is blowing itself apart over Greece – and nobody seems able to stop it Prime Minister Alexis Tsipras never expected to win Sunday’s referendum. He is now trapped and hurtling towards Grexit Like a tragedy from Euripides, the long struggle between Greece and Europe’s creditor powers is reaching a cataclysmic end that nobody planned, […]
Greece and the Marxism of Syriza
Greece and the Marxism of Syriza Has the Leopard Really Changed its Spots? Back in February, a brief article at the BBC remarked on the seeming transformation of Syriza from a bunch of Marxist dreamers into (shudder..) quasi-“Blairites”. To be sure, we also approved of the signs of pragmatism that emerged at the time. The party had […]
Greek debt crisis: ‘Something awful’ this way comes
Greek debt crisis: ‘Something awful’ this way comes The next “final” twist in the exhausting Greek drama is upon us, and it’s looking like “something awful” is about to befall the country’s banking system, Citigroup analysts said yesterday. A deal was on the table Friday, but the ECB’s move over the weekend to freeze emergency loans […]
A Week of Crisis for Greece and Global Markets
A Week of Crisis for Greece and Global Markets After years of false starts it appears that the ‘Grexit’ is finally in motion. Yet when the dust finally settles, this week will be remembered for its market volatility – not as the time when Greece kicked itself out of the euro zone. Cooler Heads […]
And So It Begins – Greek Banks Get Shut Down For A Week And A ‘Grexit’ Is Now Probable
And So It Begins – Greek Banks Get Shut Down For A Week And A ‘Grexit’ Is Now Probable Is this the beginning of the end for the eurozone? For years, European officials have been trying to “fix Greece”, but nothing has worked. Now a worst case scenario is rapidly unfolding, and a “Grexit” has […]
The Greek Butterfly Effect
The Greek Butterfly Effect Many times nothing happens for a long time. Then all of a sudden everything happens at once. Like a dam break. It builds slowly and then it bursts. Example: Who would have ever thought the Confederate flag would be taken down across the South during the same week that a rainbow flag is symbolically hoisted […]
Troika Offers Greece Third Bailout Program, Prepares Emergency Plan If No Deal
Troika Offers Greece Third Bailout Program, Prepares Emergency Plan If No Deal On the heels of Thursday’s failed Eurogroup meeting and heading into what is again being presented as an all or nothing, “Lehman weekend” for Greece and its creditors, reports suggest the troika has offered Greece a third bailout program: GREEK CREDITORS OFFER EU15.5B […]
The Euro Was Doomed From The Start—–And Still Is
The Euro Was Doomed From The Start—–And Still Is Next week will be a momentous one for Europe, with a string of crucial meetings including the summit at which the PM will table his renegotiation demands. We may be focused on our renegotiation but it is Greece which will dominate. For some time it has looked […]
“Bank Holiday” Preparations Begin In Greece, Lines Form At Athens ATMs
“Bank Holiday” Preparations Begin In Greece, Lines Form At Athens ATMs The writing has been on the wall for quite sometime. Deposit flight from Greece’s ailing banking sector has been running north of €500 million per day this week as the threat of capital controls casts a pall over the Greek government’s efforts to reassure […]
“Calm Reigns” Everywhere As Greece Inches Closer To Default, China Crashes
“Calm Reigns” Everywhere As Greece Inches Closer To Default, China Crashes In what is perhaps the most glaring instance of central bank intervention yet,Reuters today captured the market mood as follows: “Calm ruled Europe’s stock and currency markets on Friday as Greece inched closer to a default later this month….the euro was down just 0.3 percent […]
Bank Of Greece Pleads For Deal, Says “Uncontrollable Crisis”, “Soaring Inflation” Coming
Bank Of Greece Pleads For Deal, Says “Uncontrollable Crisis”, “Soaring Inflation” Coming The situation in Greece has escalated meaningfully since last week. After the IMFeffectively threw in the towel and sent its negotiating team back to Washington on Thursday, EU and Greek officials agreed to meet in Brussels over the weekend in what was billed as […]
The Next Great European Financial Crisis Has Begun
The Next Great European Financial Crisis Has Begun The Greek financial system is in the process of totally imploding, and the rest of Europe will soon follow. Neither the Greeks nor the Germans are willing to give in, and that means that there is very little chance that a debt deal is going to happen […]
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 […]
Why Europe can’t let Greek economy crumble: Don Pittis
Why Europe can’t let Greek economy crumble: Don Pittis EU must find solution that does not propose stripping elderly of pensions There are vultures in the financial community snapping their beaks and waiting for a Graccident. If you haven’t heard the term before, Graccident is the latest rhetorical bastardization of the English language after Grexit, wherein you attach the […]
