‘Crazy Man’ Greek Debt Strategy Hurt EU Viability
The economic crisis in Greece is playing out with political and economic ramifications that are causing, and will continue to cause, damage across Europe.
Tag: Euro
German Eurosceptics: ‘European Leaders Will Keep Greece in Euro Even if It Defaults’
LONDON, United Kingdom – EU chiefs are so ideologically committed to the euro that they may not let Greece leave the currency even if it defaults on its debts, Germany’s leading Eurosceptic has said. Speaking to a meeting of the
Downing Street: Britain Preparing for Greek Euro Exit
The British government is accelerating its preparations for a possible Greek exit from the euro zone, a spokeswoman for Prime Minister David Cameron said on Wednesday, after the Greek central bank warned of the consequences of such a scenario. “You can
GREXIT IS NIGH: Markets Panic As Greece Edges Closer to Default, Euro Exit
Greece insisted Monday it is ready to return to bailout talks “at any moment” after a breakdown in negotiations with creditors pushed the country closer toward bankruptcy and jolted international markets. As concern over Greece’s financial future swelled across financial
Greece Told to Back Down on Debt Demands by Creditors
The long standoff between intransigent Greek socialists and their increasingly exasperated creditors appears to be reaching an end, judging by the commentary after an International Monetary Fund meeting this week. It sounds as if the Greeks are running out of cards to play.
Belgium Defies France, Mints Euro Coin Marking Napoleon’s Defeat at Waterloo
Belgium on Monday began minting €2.50 coins marking the 200th anniversary of Napoleon’s defeat of at the Battle of Waterloo, after France forced it to scrap a two-euro coin made for the same purpose. Paris objected to the new Belgian
Anger Across Eurozone as Officials Admit ‘Greek Debt Will Never Be Repaid’
An admission that Dutch taxpayers are unlikely to ever see the €12 billion they have lent to Greece returned has sparked a backlash against continued bailouts in the Netherlands. Kees Vendrik, chairman of the Dutch court of audit has provoked
Greece’s Syriza: ‘No More Compromise’ on Debt Ahead of Friday Deadline
After late-night talks in Berlin with global leaders, Greek Prime Minister Alexis Tsipras says that Greece has reached a “realistic” solution to the debt crisis ahead of Friday’s impending deadline.
Greece Starts Preparing For Eurozone Exit
Greek authorities have started preparing for a possible Eurozone exit with contracts being drawn up for “payments in euros or any national Greek currency” as the government admitted yesterday the country was broke. Since the Syriza government was elected to power,
Finance Minister Varoufakis Pulled Back from Greek Debt Negotiations
Bloomberg Business understandably sees all sorts of signals in Greece’s decision to pull Finance Minister Yanis Varoufakis back from bailout negotiations, a move it describes as “clipping Varoufakis’ wings” and “reining him in” after three months of debt talks failed to produce an agreement.
‘Grexit’ Brinkmanship is Classic Greek Tragedy
The populists are screening a modern Greek Tragedy wherein the noble Greek people are forced to suffer deprivations in return for the villainous German-controlled creditors pretend to loan Greece money that mostly repay existing EU loans used to buy German imports. But with Greece on the brink of running out of cash, and Greece’s creditors running out of patience, a compromise may be coming together to avoid an overt ‘Grexit’ by allowing for a devalued “Greek euro.”
Greece Considers Switching to Drachma, or Maybe Bitcoin, Who Knows?
The long-gestating Greek financial meltdown looks to be getting underway, as the socialist government makes a few final efforts to scare Europe into giving them more money and lays plans to nationalize the banks as they begin dropping out of the Eurozone.
Greece Renews Threat to Seize ‘War Reparations’ from Germany
The eleventh-hour decision to extend Greece’s bailout a few weeks ago turns out to have been an even closer shave than it seemed at the time, with Reuters reporting that a massive revolt among German conservatives left the vote “hanging by a thread,” as one German legislator put it. Escalating tensions between sullen Greece and fed-up Germany could make the votes on further bailout extensions or new financing deals even tighter.
France Objects To Euro Coin Commemorating Famous Military Defeat
France has objected to plans by the Council of Europe to issue a Euro coin to commemorate the Battle of Waterloo. The battle was the final defeat of Napoleon and took place two hundred years ago in Belgium. This prompted
European Debt Talks With Greece Fall Apart
The new socialist government of Greece is not having much success convincing its European creditors to forget about billions of dollars in debt, and then loan Greece even more money. Bloomberg News reports Commerzbank AG is doubling the odds of a Greek exit from the Eurozone to 50 percent, which sounds like a polite underestimation of the odds, given the sudden and acrimonious end of the latest debt talks.
Reuters: UK Close to Deflation, But Don’t Worry
(Reuters) Deflation is close – but don’t worry. That was the message from Bank of England governor Mark Carney, as he explained why UK inflation is at its lowest level in nearly 15 years. Follow Breitbart London on Twitter @BreitbartLondon
Alan Greenspan Predicts Greek Exit from Eurozone, Doom for the Euro
Over the weekend, former U.S. Federal Reserve chairman Alan Greenspan predicted that Greece will end up leaving the eurozone and that the euro will not long survive its departure.
Greek Revolt Long Overdue
The newly elected Greek government is quite correct to eschew austerity and seek reductions in what it owes northern European governments. The Euro is punishing the South, and solving Mediterranean states’ chronic financial problems would require moving some industry from the North to the South. More austerity would only bleed the patient further.
Deflation Arrives In Germany, Putting Europe’s Largest Economy At Risk
Perhaps Greece’s new far-left government will rethink its plans to shake Europe down for cash to fund its wild spending binges, now that the German economy has officially entered a deflationary cycle, as reported by Business Insider
Germany Carves Out a Backdoor Exit from the Euro
The European Central Bank (ECB) gave the Left and their allies meeting in Davos, Switzerland, everything they could have hoped for with the announcement that they have agreed to print $1.13 trillion of new cash to buy the national debt of their insolvent members. But “hidden within the announcement is evidence of Germany’s weakening commitment to the European project,” according to Stratfor.
Switzerland May Be Preparing for the End of the Euro
Something is brewing in Europe now that has the Swiss National Bank worried. If you haven’t been paying attention in the last 24 hours, the currency and equity markets have been rocked by a surprise move to delink the existing currency peg
European Trade War is Breaking Out
The European Constitutional Court of Justice ruled the European Central Bank (ECB) has unlimited authority to massively inflate the euro. The Swiss National Bank (SNB) was forced to drop its fixed exchange rate for the nation’s “franc” currency.
Not Such a Happy New Year for MEPs as Euro Slump Slashes Salary by £300
The long expected decline in the euro means a happy new year for British holiday makers looking to jet off for a few days to the Continent: but our payments to the EU budget won’t be falling despite the more
Third Spy Arrested in Lithuania in Past Month Is Suspected to Be Russian
Lithuania, a member of the European Union and NATO, has identified more spies within its armed forces. The spy discovered in this incident worked at a NATO facility in Šiauliai. Lithuanian officials did not state which country the spies worked for, but they did not rule out connections to Russia and Belarus. Other experts believe several more Russian spies have infiltrated Lithuania.
No Mention of Scalise in 2002 Press Release
A press release for the 2002 workshop put on by David Duke’s European American Unity and Rights Organization (EURO) makes no mention of Steve Scalise as one of the featured speakers.
