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Behind The Global – Game Of – Thrones
Behind The Global – Game Of – Thrones Greek PM Alexis Tsipras yesterday laid out Syriza’s stance, and from what I saw he didn’t pull even one punch. Despite all the suggestions from the financial press throughout the past week that Tsipras and Varoufakis reneged on campaign promises to seek debt write-downs, they didn’t, and […]
Europe, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter
Europe, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter In the absence of any notable developments overnight, the market remains focused on the rapidly moving situation in Greece, which as detailed over the weekend, responded to Europe’s Friday ultimatum very vocally and belligerently, crushing any speculation that Syriza would back down or compromise, […]
Crunch Time as Greece’s Terrible Deadlines Loom
Crunch Time as Greece’s Terrible Deadlines Loom Since the election of Syriza, the pressure on Greece has been cranked up to almost unbearable levels. The first shot across the bow came from the European Central Bank’s Master of Ceremonies, Mario Draghi, who warned that if Greece didn’t start behaving itself (i.e. stop all this silly […]
UK Begins Preparations For Grexit
UK Begins Preparations For Grexit As recently as two years ago, even the merest hint that any entity was preparing for what then was unthinkable, namely the Greek exit from the Eurozone, was enough to get one burned at the stake. After all, recall what happened when none other than the head of the ECB lied on the record to […]
War and Default in Europe Pose Merkel’s Biggest Challenge
War and Default in Europe Pose Merkel’s Biggest Challenge (Bloomberg) — After almost a decade as German chancellor, Angela Merkel faces a moment of truth as a resurgent Russia and fed-up Greeks challenge her blueprint for Europe’s future. As bloodshed in eastern Ukraine escalates and the new Greek government rejects austerity championed by Merkel, her […]
Greece: Greenspan predicts exit from euro inevitable
Greece: Greenspan predicts exit from euro inevitable The former head of the US central bank, Alan Greenspan, has predicted that Greece will have to leave the eurozone. He told the BBC he could not see who would be willing to put up more loans to bolster Greece’s struggling economy. Greece wants to re-negotiate its bailout, […]
Historically speaking, Germany a bigger deadbeat than Greece
Historically speaking, Germany a bigger deadbeat than Greece Germany’s debt defaults after the two world wars dwarfs anything Greece has done, economists say In its attempt to bust the austerity shackles that lenders have imposed, Greece’s new leftist government is finding a particularly unsympathetic ear in Germany, the European Union’s paymaster, which says it is […]
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 […]
Global Conflict Intensity Spikes To 7-Year High
Global Conflict Intensity Spikes To 7-Year High If it’s not one geopolitical concern these days it’s invariably another. If today’s story isn’t weak-handed Greece escalating the rhetoric in its hopeless game of chicken with eurozone creditors, it’s ISIS ratcheting up the shock factor in a campaign to scare U.S. coalition partners away from an increasingly ineffectual […]
‘The Communist Manifesto’ (2015 edition)
‘The Communist Manifesto’ (2015 edition) In the Communist Manifesto, Karl Marx wrote that “a specter is haunting Europe — the specter of communism.” That image has been much adapted. The specters that have been held to haunt the Europe of today include Americanization, privatization, the far right, and the breakup of the euro, among others. Mark […]
Defiance and Charm: A Measured First Week for New Greek Leader
Defiance and Charm: A Measured First Week for New Greek Leader Minister of Administrative Reform Georgios Katrougalos sits cheerfully in his new office and rejoices about his little revolution. He has just announced that soon the first 3,500 public-sector employees can return to work, including the famous cleaning ladies who led the protest against job cuts. […]
Why the Beautiful New Greek Government Is Screwed
Why the Beautiful New Greek Government Is Screwed Greek Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis, often in a good-cop-bad-cop manner, have been cruising through the media, lobbing a mix of admirable rhetoric, verbal hand grenades, and down-to-earth explanations. And they have become white-hot media darlings. So Varoufakis was in Germany to meet […]
Debt In The Time Of Wall Street
Debt In The Time Of Wall Street With all the media focus aimed at Greece, we might be inclined to overlook – deliberately or not – that it is merely one case study, and a very small one at that, of what ails the entire world. The whole globe, and just about all of its […]
China’s Monumental Debt Trap—-Why It Will Rock The Global Economy
China’s Monumental Debt Trap—-Why It Will Rock The Global Economy Bloomberg News finally did something useful this morning by publishing some startling graphs from McKinsey’s latest update on the worldwide debt tsunami. If you don’t mind a tad of rounding, the planetary debt total now stands at $200 trillion compared to world GDP of just $70 […]
Shunned Greece Agrees To Boost Economic Cooperation With Russia
Shunned Greece Agrees To Boost Economic Cooperation With Russia It’s been an odd few days for Greece’s new PM Alexis Tsipras. From being lambasted by Jeroen Dijsselbloem, shunned by Angela Merkel’s henchmen, holding hands with Jean-Claude Juncker, and losing a key funding channel from Mario Draghi; Tsipras’ anti-austerity platform has been ‘supported’ by Barack Obama and […]
