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Tag Archives: greece
“Odious Debt” Has Finally Arrived: Greece To Write Off “Illegal” Debt
“Odious Debt” Has Finally Arrived: Greece To Write Off “Illegal” Debt It was back in June 2011 when we first hinted that the time of Odious Debt is rapidly approaching. As a reminder, this is what Odious Debt is: In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that […]
This Could Sink Banks in Greece, Portugal, Spain, and Italy
This Could Sink Banks in Greece, Portugal, Spain, and Italy Not that much has changed in Spain since the climax of the debt crisis during which its collapsing banks were bailed out. Some of them were recombined into a bank with a new name – Bankia – and sold to the public via an IPO […]
Is Greece planning to print energy?
Is Greece planning to print energy? Over the past couple of months the story keeping many people on the edge of their seats has been the ongoing dilemma of Greece’s detested debt burden, its Great Depression-worthy 25% contraction of its economy, and its voluntary or even forced withdrawal from the eurozone – the fabled “Grexit.” For […]
Greece Said To Prepare “Grexit”, Drachma, Bank Nationalization Plans
Greece Said To Prepare “Grexit”, Drachma, Bank Nationalization Plans On Thursday morning, we took an in-depth look at what the progression of events is likely to be in the event a cash-strapped, negotiation-weary Greece finally, for lack of will or for lack of options, fails to scrape together enough cash to pay its creditors. As BofAML notes, […]
Is Greece About to Play its Geopolitical Trump Card and Ignite a Chain Reaction Across Europe?
Is Greece About to Play its Geopolitical Trump Card and Ignite a Chain Reaction Across Europe? If the EMU powers persist mechanically with their stale demands – even reverting to terms that the previous pro-EMU government in Athens rejected in December – they risk setting off a political chain-reaction that can only eviscerate the EU […]
Steve Keen: The Deliberate Blindness Of Our Central Planners
Steve Keen: The Deliberate Blindness Of Our Central Planners Choosing to ignore the largest risks The models we use for decision making determine the outcomes we experience. So, if our models are faulty or flawed, we make bad decisions and suffer bad outcomes. Professor, author and deflationist Steve Keen joins us this week to discuss […]
Recovery, Geopolitics and Detergents
Recovery, Geopolitics and Detergents Increasingly over the past year or so, when people ask me what I do, and that happens a lot on a trip like the one I’m currently on in the world of down under, I find myself not just stating the usual ‘I write about finance and energy’, but adding: ‘it […]
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 […]
Greece Prepares To Leave
Greece Prepares To Leave Speculation and expert comments are thrown around once more – or still – like candy on Halloween. Let me therefore retrace what I’ve said before. Because I think it’s really awfully simple, once you got the underlying factors in place. But first, if one thing has become obvious after Syriza was […]
Transformation or replication? On the aftermath of the Greek government shift
Transformation or replication? On the aftermath of the Greek government shift “I’m a pessimist because of intelligence, but an optimist because of will” (A. Gramsci) We might err, but we believe that in the night of the elections in January 2015 a symbolic “tipping point” has been reached in Greece, signifying a break with a one […]
EU and Greece Running Out of Time – As Bank Runs Intensify, Bail-Ins Likely
EU and Greece Running Out of Time – As Bank Runs Intensify, Bail-Ins Likely – EU and Greece running out of time as talks end “in disarray” – again – Greece warns Merkel of ‘impossible’ debt – Concerns Greece out of money by end of April – Friday’s “agreement” in Brussels falls apart hours later […]
Rich Man’s Bank Hit by Bank Run, Collapse, “Bail-In”
Rich Man’s Bank Hit by Bank Run, Collapse, “Bail-In” In Europe nary a day seems to go by without some mention or rumor of a bank run or bank closure. Ground Zero of the current troubles is Greece, whose broken financial system is now wholly dependent on regular infusions of euros from the ECB. The […]
Looks Like Germany May Have To Pay Up
Looks Like Germany May Have To Pay Up German magazine Der Spiegel digs deep(er) into the ‘Greece question’ this weekend, and does so with a few noteworthy reports. First, its German paper issue has Angela Merkel on the cover, inserted on a 1940′s photograph that shows Nazi commanders against the backdrop of the Acropolis in […]
C’mon Angela, Let Them Greexit
C’mon Angela, Let Them Greexit With each passing day it becomes more obvious that Europe is heading for an epochal financial conflagration. So buy-the-dip if you must, but don’t believe for a minute that the US has decoupled. When the euro and EU eventually implode it will rattle the bones of every gambler and algo left […]
