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German FM: Greeks with Retsina under Olive Tree? A Cliche…

 Guido Westerwelle, German Foreign Minister, from neo-liberal Free Democrats Party (FDP) came to his senses. He apparently realized that the populists policies of FDP cannot save his party from the free fall*.  After two years of sharp criticism towards Greece and while FDP chief Philipp Roesler  finally found another playground …

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First European Rating Agency on the Way

Standard & Poor’s, Moody’s and all the other kids, that is the American rating agencies are about to get a European rival. German corporate consulting firm Roland Berger developed a plan to challenge the dominance of American firms that have thrown quite some euro zone member countries into deep red by …

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Rehn: Greece Joining the Euro in 2001 was a Big Mistake

“Greece’s participation in euro zone was a big mistake.” Instead of baking Easter cookies and paint some eggs, European Economic and Monetary Affairs Commissioner Olli Rehn made some EU soul searching and came to this thoughtful conclusion. Ten (whole) years after. “European decision makers need to be cautious and the euro zone …

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UN Expert: “Greek Austerity Could Violate Human Rights”

 The appeal of a Greek citizen to International Criminal Court of the Hague raised some eyebrows and triggered some ironic comments. Can the Greek political leadership be accused of ‘genocide and crimes against humanity’ due to the harsh austerity? It is certainly an issue of definition. However, here comes United …

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German FinMin: Blatant Intervention in Greece’s Democratic Procedures

The boldness of some EU so-called “partners” of Greece has apparently no limits. Just hours before the Eurogroup teleconference on Wednesday evening and after conservative coalition partner Antonis Samaras sent his written commitments to the country’s lenders, German Finance Minister Wolfgang Schaeuble made a blatant intervention in Greece’s democratic procedures. …

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Papademos Gets Coalition Gov’ Support – Greece’s Red Lines

Greece’s prime minister Lucas Papademos made his point of view very clear on Sunday after meeting the leaders of the three parties forming his coalition government. “If this process [ PSI, second bailout] is not completed successfully, we will find ourselves faced with the specter of bankruptcy which will have …

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FT: Germany Calls EU to Control Greek Budget

 Germany pushes for the end of the Greek sovereignty and demands to cede budget control into the hands of Greece’s lenders. The German government wants not only to appoint a state commissioner but also to take control of the budget decisions of the debt-ridden country. In a shocking proposal  obtained by Financial Times, …

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UPD: Greek PSI Deal Reached with 3.75% Coupon?

The deal on the Greek bond swap (PSI) has been apparently reached, economic news portal Capital.gr reports. Quoting banking sources, Capital writes that the deal has been reached on a coupon with an average interest rate of 3.7%. At the same time there will be a clause for growth to …

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German CDU Kauder: Greece should be Placed under Guardianship

German member of the Bundestag, leader of the Christian Democrat Union parliamentary group and close aide to Chancellor Angela Merkel made a shocking proposal. To place Greece under guardianship! Speaking to SPIEGEL-ONLINE, Kauder threatened Greece with a payment stop and if necessary the country should be placed under EU guardianship. …

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Olli Rehn: Greece’s Political Parties Need To Write Commitment For 2nd Bailout

Greek political parties need to provide clear commitments before a second bailout can be offered to the country, Olli Rehn, European Commissioner in charge of economic and monetary affairs, told reporters Tuesday.    O. Rehn Gazing at  the Greek Commitment “The political party leaders are expected to commit to the …

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Greece’s New Gov’t: Hey, Captains? They said WOT?

When I woke up this morning I was feeling fine. Fine? On the fifth day of fierce negotiations, scenarios, rumors and turnarounds, nothing had changed in Greece. George Papandreou isstill the prime minister – at least typically. Now a new PM name makes the round: Vassilis Skouris, President of the Court …

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