The current crisis in the Eurozone, which has thrown Greece into disarray, was a disaster waiting to happen, according to many economists, one of whom told Sputnik the currency is inherently unstable.
As Greece begins formal talks with creditors on a third bailout valued at 86 billion euros, uncertainty dominates the route to the August 20th deadline. Months of inaction by the government of Prime Minister Alexis Tsipras has cost Greece billions in losses. Show More Summary
Greece’s latest cycle of talks with its creditors start with a quarrel. ||| Athens - Greece’s latest cycle of talks with its creditors started with a quarrel, as officials argued over which up-front commitments the government has yet...Show More Summary
I have been helping countries to overcome financial crises for 30 years, and have studied the economic crises of the twentieth century as background to my advisory work. In all crises, there is an inherent imbalance of power between creditor and debtor. Show More Summary
Now more than ever, the world is raising serious concerns about the long-term viability of the EMU. The crisis in Greece and the deep divisions between Athens and its creditors regarding the viability of fiscal “adjustments” have laid...Show More Summary
Dear Prime Minister Tsipras, First, congratulations for mustering the popular support to say “no” to the troika. The euro has long offered Greece a perverse incentive to borrow, and now your country is trapped in debt. By any conventional means, Greece cannot repay (I propose an unconventional way, below). Show More Summary
Some interesting, and contrarian, observations from former FX trader and fund manager, and current Bloomberg commentator, Richard Breslow on Greece - which for all the bashing, may be doing just what it is supposed to be doing. FromShow More Summary
In the midst of bitter bailout negotiations between Greece and Europe, warnings proliferated of a possible Greek Fifth Column. The European Union and even NATO would collapse should Athens turn toward Russia. It is one of the stranger paranoid fantasies driving U.S. Show More Summary
Former Greek Finance Minister Yanis Varoufakis has a piece in the Financial Times on Tuesday in which he defends his plans to "hack" his own finance ministry and create a mirror payments system, which could be used in the event of a banking collapse or Greek exit from the eurozone (Grexit). Show More Summary
We should worry about an economic system that punishes borrowers but not the institutions that made risky loans to them in the first place.
Still not decided on your next holiday? Luxuryes has compiled exclusively for you a list with ten of the most stunning properties for rent in Greece. Traveling to Greece now not only supports the local economy, but you’ll fly home knowing you’ve enjoyed a truly immersive holiday experience. Show More Summary
The structural roots of this crisis are deeper than that.
From "Scary Headlines Don't Deter Investors" by Bernard Condon, originally posted by Associated Press, The U.S. economy is growing at a painfully slow pace. Greece still threatens the euro. Chinese stocks have just pulled out of a frightening free-fall. Show More Summary
Greece's debt saga took an unexpected turn on Sunday, when Greek media reported that former finance minister Yanis Varoufakis had surreptitiously made plans throughout the year for the nation's potential exit from the eurozone. In aShow More Summary
Technical negotiations between Greece and its international creditors will begin on Tuesday.
China crashing, commodities plunging, emerging currencies imploding to levels last seen when LTCM blew up, Greece on the verge of deposit confiscations, the Apple Sachs Industrial average well in the red for the year, the US economy on the verge of an industrial recession, junk bonds bloodbathing, Donald Trump pulling ahead of Hillary... Show More Summary
So that's nice of them?
As The Greek government presses The ECB for 'permission' to reopen its stock market, it may want to reconsider. GREK, the Greek Stock Index ETF trading in US markets, is down over 3% today and has plunged to its lowest since the peak of the crisis in 2012 (near its lowest since 1989). Show More Summary
A recording of former Greek Finance Minister Yanis Varoufakis discussing a parallel currency plan was made public
CORFU, Greece -- Anti-semitism makes the Jew, Sartre once famously said. In the same way, the return of "the ugly German" (to use the phrase of former German Foreign Minister Joschka Fischer) has "made" Syriza in Greece and the other populist parties of both the right and left arising today in Spain, Italy, France and elsewhere. Show More Summary