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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 […]
Greece economy: Merkel rules out more debt relief
Greece economy: Merkel rules out more debt relief German Chancellor Angela Merkel has ruled out cancelling any of Greece’s debt, saying banks and creditors have already made substantial cuts. But Mrs Merkel told the Die Welt newspaper she still wanted Greece to stay in the eurozone. Greece’s left-wing Syriza party won last weekend’s election with […]
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 […]
Can Syriza renegotiate Greece’s multi-billion bailout?
Can Syriza renegotiate Greece’s multi-billion bailout? Left-wing protest party facing up to the political reality of governing Europe’s most indebted nation. The Greek left-wing party Syriza gets down to work, after storming to power on an anti-austerity ticket. From protest party to ambitious political newcomers, Syriza is facing up to the political reality of governing […]
“The Barricades Are Down” Syriza Is Already Rolling Back Austerity “Reforms”
“The Barricades Are Down” Syriza Is Already Rolling Back Austerity “Reforms” It didn’t take long for Syriza to start making changes in Greece. While these may be minor at the margin compared to the debt “issues”, as KeepTalkingGreece reports, Alexis Tsipras and his junior coalition partner Panos Kammenos pushed the Fast Forward button to restore a series of […]
Greece Begins The Great Pivot Toward Russia
Greece Begins The Great Pivot Toward Russia Ten days ago, before the smashing success of Greece’s anti-austerity party, Syriza, we noted that Russia gave Greece a modest proposal: turn your back on Europe, whom you despise so much anyway, and we will assist your farmers by lifting the food import ban. And, sure enough, Greece’s new […]
Greece at the Crossroads: the Oligarchs Blew It
Greece at the Crossroads: the Oligarchs Blew It Once one oligarchy falls, it will threaten to topple a long line of oligarch dominoes. A great many narratives invoking Greece are being tossed around, but only one really encapsulates the unvarnished truth: the Oligarchs blew it. The oligarchs in both Greece and the European Union/ECB had the […]
Greek election: It’s really up to the ECB and EU now
Greek election: It’s really up to the ECB and EU now The result was worse than expected whatever the final outcome – the anti-austerity vote is massive, but it could be an empty gesture as Greece in reality has little choice: Comply with the Troika or leave the EUR. I doubt the later will happen […]
More reasons for the financial markets to worry
More reasons for the financial markets to worry Five tests of unity that the eurozone will face this week. In the wake of Sunday’s election in Greece, the unity of the eurozone will come under close scrutiny this week. The financial markets were already in a state of excitement over the launch of quantitative easing […]
Greece’s New FinMin Warns “We Are Going To Destroy The Greek Oligarchy System”
Greece’s New FinMin Warns “We Are Going To Destroy The Greek Oligarchy System” Over two years ago, we first highlighted Yanis Varoufakis’ perspectives on the destruction of Greece and Europe’s bogus growth pacts. Since then he has grown in both reason and popularity as his no-nonsense discussons of the mis-design of the euro (and potential solutions) have […]
Far-right Golden Dawn party takes third place in Greece elections
Far-right Golden Dawn party takes third place in Greece elections Greece’s far-right radical party Golden Dawn is expected to come third in the parliamentary election. The anti-immigrant party with Nazi roots is showing remarkable staying power, despite most of its members and lawmakers facing criminal charges. News of Golden Dawn’s all-but-official success comes as the […]
Anti-austerity Syriza sweeps Greece parliamentary poll
Anti-austerity Syriza sweeps Greece parliamentary poll Party’s leader Alexis Tsipras, who wants to renegotiate EU and IMF bailout terms, set to become next prime minister. Syriza, a radical left party, has swept to power in Greece promising to end years of painful austerity policies, in an election victory that puts the country on a collision course […]
Troika Punches Panic Button on Greece and Spain
Troika Punches Panic Button on Greece and Spain After four years of inflicting economic pain and misery on Europe’s semi-bankrupt periphery, the Troika (IMF, ECB and European Commission) is suddenly in a lather over the potential political consequences of its disastrous economic policies: “I wouldn’t like extreme forces to come to power. I would prefer […]
Syriza Leads In 6 Polls; Leader Tsipras Shuns Merkel, Says “Won’t Honor Commitments”
Syriza Leads In 6 Polls; Leader Tsipras Shuns Merkel, Says “Won’t Honor Commitments” With the leads in at least six polls (of between 4% and 10%), Syriza leader Alexis Tsipras has come out swining for the anti-EU vote this morning: *TSIPRAS SAYS ONLY SYRIZA CAN END GREECE’S CATASTROPHIC COURSE *TSIPRAS SAYS WON’T HONOR COMMITMENTS MADE BY PREVIOUS […]
Oh, Greece!
Oh, Greece! Greece’s bailout program is not working. After receiving hundreds of billions of Euros in new loans to stave off a sovereign default, Greeks are on the verge of electing a new government that may throw Eurozone politics into turmoil. From the outset, this was always going to be a tricky one for European […]
