Tag Archives: debt crisis

Greece could ditch the euro and choose to be tied to the US dollar on the same terms like the ones used by Puerto Rico. Senior Greek economists have inquired about the possibility to adopt the green US dollar. Athens would humiliate Brussels and cause Germany to ‘freak out’. Who …

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For one more time, the International Monetary Fund had to admit that its methods for projections and forecast were questionable. In an effort to reject criticism coming from Greece’s European lenders, the director of the IMF European Program, Poul Thomsen, admitted that the Fund did not had all available and …

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Jeroen Dijsselbloem said that the second review of Greece’s program will not conclude in time for the next Eurogroup meeting scheduled for Monday, February 20. The Dutch finance minister who is also head of the Eurogroup stressed that the participation of the International Monetary Fund remains essential for the continuation …

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The fronts remain unmovable: the International Monetary Fund and the EU lenders are stuck in their position regarding Greece debt sustainability. Big boys and girls playing with numbers, false multipliers and wrong forecasts on the back of millions of Greeks. Big boys and girls playing with the fates of millions …

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The report of the International Monetary Fund angered not only the Greeks but also its European Lenders. Greece was angered because the IMF insists on demanding two major income cuts: pensions cut and lowering the tax-free allowance. Greece’s European lenders, on the other hand, got angry because the IMF insists …

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European creditors continue the hard line towards the Greek government with a clear message: The institutions representatives will not return to Athens if the government does not agree to legislate now additional austerity measures for the years 2019 and 2020. Citing an anonymous sources in Brussels, private ANT1 TV reported, …

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Us President Barack Obama had a phone conversation with Greek Prime Minister Alexis Tsipras on Thursday.According to a White House press release, Obama called Tsipras to congratulate him for his Elections success on September 20th. The two leaders discussed Greece’s reforms to achieve debt sustainability, the Syrian refugee crisis, and …

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A study conducted by the Labor Institute of Greece’s biggest private sector union GSEE highlights the dramatic deterioration of the living stands of Greeks due to the austerity policies of the last 5 years, that is ever since the country sought its financial ‘rescue’ from the International Monetary fund. Analyzing …

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Who drove Greece to the economic and consequently political ruin? Apparently there have been 12 people or better say categories of people who have put their hands in ruining Greece. Political magazine POLITICO makes a historical approach to find those responsible for the troubles that have been harrowing the country …

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Good that there are statistics and we can base our complains on real facts and statistical data. Eurostat found out that household electricity and gas prices rose between the second half of 2011 and the second half of 2012 in the Europe of 27. In simple English, that is between …

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Mass migration revived in times of debt crisis, recession, austerity and unemployment. From European door to European door, so to say. One million people from the European south moved to Germany in 2012, Germany’s statistics authority said on Tuesday. And majority of the new European migrants came from Spain, Greece …

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Ufff! The euro is saved. And together with euro, we, debt-ridden European Southerners, are save too. Head of European Central Bank, Mario Draghi announced on Thursday, that the ECD will buy bonds of countries in debt crisis until they recover. Draghi’s decision comes despite Germany’s objections fearing that member states …

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Greek prime minister Antonis Samaras sent a clear message to those speaking lenders of Greece who keep casting doubt whether the debt-ridden country would manage to exit the crisis – or the euro. Without directly naming FDP leader Philip Roesler it is more than obvious that Samaras’ arrows were shot in German direction. …

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 No, this sweaty speculator, this greedy guy with greasy hair surely does not. He is waiting for Ireland to go on sale… The advertisement of POWWOWNOW company hangs in London Underground. Does it offend Greeks? Hm… I do not really know. It is not the first and it won’t be the last of this kind …

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 Top officials from the European union and the Euro Zone revealed their grand vision about the common currency, the EURO. In the European version of the Chinese “Gang of Four*”, van Rumpuy (EC), Barroso (EC), Juncker (EUROGROUP) and Draghi (ECB) called EZ member countries to proceed to tighter fiscal control and to “grant …

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Austerity without growth is not a solution. The Socialist candidate in the French presidential election Francois Hollande have understood this and included solutions for Greece in his pre-election campaign. ” We need to lighten the burden on Greece, Hollande said adding that if he beats Nicholas Sarkozy, he would “convince Greeks …

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Nine in ten Greeks have economic difficulties to buy their medication, while 70% say their income is not enough for the purchase of all the medicine they need. Furthermore, 59.5% did not proceed to labour tests as advised by their physicians due to economic problems. These grim results came into …

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That’s an economic analysis and dermatological condition description in 140 characters. Bill Gross, bond guru and manager at the world’s biggest investment management company PIMCO used his Twitter account to schratch some pimples from the bottom side of his Frankenstein moon. “Bill Gross, the world’s biggest bond manager, put the matter …

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There is no money for wages, pensions, medicines and books, but there is money for arms. Especially when they are sold by EU countries, our eager-to-bailout-Greece friends. Friends willing to give loans but only under one condition: Trade “arms” for “bailout”.  Citing official EU figures, the website euobserver.com revealed that Eu countries like Germany, …

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Feverish meetings were held in the office of Greece’s prime ministers’ office on Tuesday ahead the teleconference of George Papandreou and German Chancellor Angela Merkel and French President Nicolas Sarkozy on Wednesday, Sept 14th 2011. The meeting with top economists of the country were made under the specter of an …

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