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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 […]
What’s Next in the Greek Farce and Why
What’s Next in the Greek Farce and Why The Man They Hate with a Passion Euro area politicians and IMF bureaucrats really hate Yanis Varoufakis’ guts with a passion. The media are full with denunciations of the man as “unprofessional”, negotiators of the euro-group let it be known (anonymously, natch) that “it got to the point where […]
Starvation Is The Price Greeks Will Pay For Remaining In The EU
Starvation Is The Price Greeks Will Pay For Remaining In The EU Syriza, the new Greek government that intended to rescue Greece from austerity, has come a cropper. The government relied on the good will of its EU “partners,” only to find that its “partners” had no good will. The Greek government did not understand […]
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On Talks between Greece and creditors collapsed on Sunday after Athens once again refused to compromise on a the pension cuts and VAT hike the troika insists are necessary if the country is to receive the final tranche of aid from its second bailout program. We noted […]
Snowden, Putin, Greece: It’s All The Same Story
Snowden, Putin, Greece: It’s All The Same Story Through the last decades, as we have been getting ever more occupied trying to be what society tells us is defined as successful, we all missed out on a lot of changes in our world. Or perhaps we should be gentle to ourselves and say we’re simply […]
How The IMF Can Save Greece And Itself
How The IMF Can Save Greece And Itself There’s a Reuters article by Paul Taylor today that’s thought provoking, but not along the same line of thought that the writer follows (or the twist he gives to it). Taylor concludes that the IMF would love to wash its hands off Greece, but can’t because it’s […]
Europe Gives Greece 24 Hours To Comply; Germany Draws Up Capital Control Plans
Europe Gives Greece 24 Hours To Comply; Germany Draws Up Capital Control Plans EU officials turned up the heat on Athens Thursday after the IMF withdrew its team and sent its lead negotiators back to Washington. In what can only be described as a half-hearted effort, Greek PM Alexis Tsipras submitted two three-page proposals earlier this week […]
Building Hope in Times of Crisis
Building Hope in Times of Crisis ‘There is a big need for the solidarity movement in Greece. It started in late 2011 and has nearly doubled now to around 400 groups – even more if you add the more loosely networked ones,’ Christos Giovanopoulos says. We sit in the central Athens office of Solidarity for […]
Why Greece Must Leave
Why Greece Must Leave French Economy Minister Emmanuel Macron and German Vice-Chancellor Sigmar Gabriel published a piece in the Guardian last week that instantly revived our long nourished hope for the European Unholy Union to implode and be dissolved, sooner rather than later. The two gentlemen propose a ‘radical’ reform for the EU. Going a full-tard 180º […]
The European “Template” For Dealing With Crises: Freezing Accounts, Bank Holidays, and Capital Controls…
The European “Template” For Dealing With Crises: Freezing Accounts, Bank Holidays, and Capital Controls… More and more analysts are beginning to take note of the “War on Cash.” However, they’re missing the fact that the actual template for what’s coming to the US first appeared in Europe back in 2012. Back in March of 2012, […]
Germany, France Call for Fiscal and Political Union. Public Ignorance Vital for Success of EU Power Grab
Germany, France Call for Fiscal and Political Union. Public Ignorance Vital for Success of EU Power Grab Since Europe’s sovereign debt problems exploded onto the scene in 2010 the European Union has masterfully exploited the crisis to strengthen its grip over the old continent. It has stripped once-proud, independent nations of the last vestiges of […]
Greece: It’s Time For Your Default And Debt Restructuring
Greece: It’s Time For Your Default And Debt Restructuring For some reason, people think a sovereign default, and a subsequent debt restructuring such as Greece’s government faces, is something that is conceivable – the proverbial asteroid hitting the earth – but which has never actually happened. Sometimes, raw data says more than words. According to […]
Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?
Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer? Are they expecting something to happen? As you will read about below, the European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two months will face legal action. The countries […]
Stay Out Of Harm’s Way—-The Casino Is Fixing To Blow
Stay Out Of Harm’s Way—-The Casino Is Fixing To Blow Shock waves have been rumbling through the global bond market in the last few days. On April 17 the yield on the 10-year German bund pierced through the 5bps level, but yesterday it tagged 100bps. That amounted to a 20X move in 39 trading days. It also amounted to total annihilation if you […]
Greece: Out Of Cash, Out Of Time, Out Of Options
Greece: Out Of Cash, Out Of Time, Out Of Options On Friday Greece is due to pay at least a quarter of the €1.5bn due to the IMF in June. … The creditors say they will only disburse the money if the Greek government enacts various key economic reforms and does not roll back reforms the […]
