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EU Commission: A Week Long Time-Out For Greek Bailout Talks

 The representatives of Greece’s lenders, the so-called Troika, are leaving Athens, even though it seems that the negotiations on the spending savings package have not concluded yet. An EU Commission spokesman told reporters in Brussels, that the Troika “will be leaving this weekend and will return in about a week. the spokesman …

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Olli Rehn: Greece Has Achieved More Than Is Often Realized

Greeks should be proud! For the compliments made by EU Commissioner for Monetary Affairs, Olli Rehn. In an article he wrote for Wall Street Journal about the euro crisis, Olli Rehn wrote among others: “Over the last two years, Europe has made remarkable progress in addressing these imbalances. Consider the …

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Open Letter to Mario Draghi (ECB): Difficult to Save the Euro, When…

Head of European Central Bank, Mario Draghi, is expected to announce some measures to save the euro. While the markets anticipate to hear the news, normal citizens and taxpayers of the European Union and the euro zone try to figure out what’s the importance of Draghi’s intervention and how these will affect …

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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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