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Tag Archives: greece
Abolishing Cash – New Age of Economic Totalitarianism
Abolishing Cash – New Age of Economic Totalitarianism Europe is moving full speed ahead to eliminate all cash. Instead of reforming and tackling the economic problems, government always seeks to maintain the same course of thinking that now leads us to the totalitarian approach coming from Brussels. To maintain the euro, they must maintain the […]
The IMF Leaks Greece
The IMF Leaks Greece Whenever secret or confidential information or documents are leaked to the press, the first question should always be who leaked it and why. That’s often more important than the contents of what has been leaked. And since there’s been a lot of hullabaloo about a leaked document the past two days, […]
Shape Of Greek Endgame Emerges: IMF Discussed “Cyprus-Like” Plan After Tsipras Warned Of Looming Default
Shape Of Greek Endgame Emerges: IMF Discussed “Cyprus-Like” Plan After Tsipras Warned Of Looming Default As we said over the weekend, it’s all about Riga again for Greece. EU leaders will meet on Thursday and Friday in Latvia where PM Alexis Tsipras will try to secure a more favorable outcome than did FinMin Yanis Varoufakis who, last […]
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 […]
Why Not Tell Greece How To Run A Democracy?
Why Not Tell Greece How To Run A Democracy? I know I’ve talked about this before, but it just keeps coming and it keeps being crzay.Bloomberg ‘reports’ that the ‘German Finance Ministry’, let me get this right, “is supporting the idea of a vote by Greek citizens to either accept the economic reforms being sought by […]
When Europe Gets Greece’s Jingle Mail: Dealing with Default
When Europe Gets Greece’s Jingle Mail: Dealing with Default The costs and consequences of Greece exiting the Eurozone may well dwarf the financial losses triggered by Greece’s default. The term Jingle mail originated in the great popping of the housing bubble 2008-2011. It refers to defaulting homeowners mailing the keys to their house back to the lender, and […]
Europe Preparing Greek Bankruptcy Loan “In Event Of Grexit”
Europe Preparing Greek Bankruptcy Loan “In Event Of Grexit” Earlier today, we learned that, contrary to what Greek government officials had been implying for the better part of a week, Athens did not have enough money to make a €750 million payment to the IMF on Tuesday. Instead, Greeceborrowed most of the money (€650 million according […]
Greece Is Now Just A Political Issue
Greece Is Now Just A Political Issue Greece paid off the IMF yesterday with its IMF reserves. Is that a big deal? Whatever you may want to read into this, it’s been obvious for years that Greece needs major debt restructuring if it wants to move forward and have a future as a country -let […]
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 […]
IMF Preparing Greek Default Contingency Plan
IMF Preparing Greek Default Contingency Plan The biggest slow motion trainwreck in history, one that everyone knows how it ends just not when (especially since the “when” is about 5 years overdue), that of the Greek sovereign default may just got a bit more exciting earlier today when the WSJ reported that the IMF can no longer lie – like Mario Draghi […]
Schäuble Warns of “Sudden” Greek Default
Schäuble Warns of “Sudden” Greek Default The governments of Greece – new and old – screwed up. Other debt-sinner countries are able to borrow at near-zero or negative interest rates, simply taking money from investors with a promise to return it on a given day in the future if investors give it new money to […]
Greece – Cruising Toward a “Happy End”?
reece – Cruising Toward a “Happy End”? Bankrupt Greek Government Hopeful … Hope dies last, as they say in Germany, but it has always been certain that the EU would do “whatever it takes”, to use a Draghi-ism, to keep Greece in the euro fold by finding a way to continue the existing extend and […]
The Choice Before Europe
The Choice Before Europe Washington continues to drive Europe toward one or the other of the two most likely outcomes of the orchestrated conflict with Russia. Either Europe or some European Union member government will break from Washington over the issue of Russian sanctions, thereby forcing the EU off of the path of conflict with […]
Steps Towards a New World
Steps Towards a New World Four Co-ops That Are Building a New Economy Nowadays the exit from the so-called economic crisis in Europe has become the main topic of conversation. Various politicians, “experts” and technocrats speak of possible exits from the critical situation in which our societies have been trapped. But their proposals rarely go […]
Greek Debt Crisis
Greek Debt Crisis Is Default or Exit Inevitable? This past week, April 24, European finance ministers met in Riga, Latvia. High on the agenda was the topic of Greek debt negotiations. Two months after the February 28 interim agreement between Greece and the EU ‘troika’—the IMF, European Commission, and European Central Bank—in which both sides agreed to […]
