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Tag Archives: Euro-crisis

Guest Post: A Very European Financial Coup d’état

Our KTG-friend Cheshire Cat just submitted his latest post of ” A Very European Financial Coup d’état”. To tell you the truth, I’m glad to see more and more people speaking of a Coup d’ Etat triggered by the markets and facilitated by the inability of the EU leaders to cope …

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150 MEPs Ask Oettinger’s Resignation Over “Flags At Half Mast” – He Denies Comment …due to Language Problems? (video)

A cross-political party group of 150 members of the EU parliament asked EU Energy Commissioner Minister Günther Oettinger either to apologize or to resign over his proposal to German BILD news paper that “debt sinners should fly their flags at half mast in front of the EU buildings.”. The MEPs …

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Greek PM Fevers Ahead Talks with Merkel-Sarkozy on Sept 14

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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German EU Commissioner: Flags of Debt-Sinners at Half-Mast

It is unbelievable what kind of Harry-Potters take decisions for our lives in Brussels. It is incredible to hear such proposals by people, misguided from their real purpose in life,  they checked the Politics Box in My-Dream-Job surveys , instead the one “Milking Cows”. This time it’s EU Commissar for Energy, German Guenther …

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Greece Cash Collateral: Grabbing the Donkey’s Tail

Many economics experts  have repeatedly criticized the EU leaders for lack of political vision. For grave delays in resolving the European crisis. Delays that broaden the gap between the North and the South, pushing millions of EU citizens into dramatic economic underworld. Lack of political will and vision push inevitably the member-states of the …

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Greece to Feed its Lenders with Cash Collaterals

Greece enters new financial adventures as the loan agreement with Finland created a huge appetite to other EU member countries forced to help out Greece but in fact – and deep in their heart – unwilling raise a single euro for the Hellenes. The Greek-Finish agreement that needs to be approved by …

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German Ex-Chancellor Blames Greece for the Euro Crisis

Former German Chancellor , conservative Helmut Kohl dismissed claims that he criticized Angela Merkel for her European policy. “These claims are fictitious” Kohl told Number 1 yellow-press newspaper in German, BILD, that Greece is to blame for the Euro crisis. The concerned ex-chancellor, initiator of the common currency, said that “Greece …

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Germany’s New Currency: the “Merkels”

First I though it was a joke, but now slowly I believe it might be true: Germany is about to issue its own currency, the “Merkels”! However there is disagreement on the design of the new German “Merkel” coins and banknotes, as the Chancellor cannot decide on the banknotes colours …

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Trying to Explain Greece’s ‘Selective Default’

Greek Finance Minister Evangelos Venizelos confound us yesterday and today the term ‘selective default’ is on everyone’s lips. Journalists and economists of the country have poured a lot of ink and have consumed  enough gray matter to explain the term and its impact on our daily lives. However since the …

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Greek PM To Tour EU, Looking For Allies

Greece Prime Minister George Papandreou is due to tour European capital -cities- and have contacts with Leaders of European countries in order to push towards a fast track lasting solution for the Greek debt. The initiative of the Greek PM is considered necessary after delays in the Eurogroup to finalize …

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IS this the EU we wanted? I don’t think so…

The European road has its reached dead-end. Call it “Greek crisis”, call it “Euro crisis” the European leaders prove day in day out that they are not able to deal with this challenge. EU leaders live in their own happy-go-merry world with some aging EU-gentlemen ridiculte themselves by  claiming they are sexy. If …

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What went wrong with the EU & turned into a Nightmare?

 I wrote this morning that I am done with the European Union.  Not with the idea as such but with the club-management and its statutes. I don’t like the way it’s run, I don’t like to be looked from above with a snobbish hulled nose.  Something went wrong with this club …

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Euro-Crisis: It’s all Greek to you…

…but it’s Chinese to me! Then for us, Greeks, the idiom “It’s all Greek to me” makes really no sense. However, whether in Chinese or in Greek, the Greek crisis makes no more sense to anybody. The Eurogroup in Luxembroug postponed its decision to release the 5th tranche of 12 billion …

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DER SPIEGEL: The Euro is Dead – Obituary

Der Euro is dead – Let’s bury it! German weekly magazine DER SPIEGEL dedicates the front page of its Monday edition with a sophisticated funeral arrangement.  The coffin is covered with the Greek flag, the picture of the deceased shows the relatives’ deep mourning through a black ribbon. The Title reads: “Sudden and …

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Is the “Euro-Drachma” a solution for Greece?

Is the “Euro-Drachma” a solution for the Greek crisis? No, not, a coin featuring Euro on one side and Drachma on the other side, as an internet user posted in a Greek economic forum. But the  Euro-Drachma would be the currency to be used for the internal trade within Greece, …

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Greece’s Debt: “Voluntary Agreement” -What’s that?

This is an economic term you will probably be reading and hearing in the upcoming weeks – or at least until Greece’s obeys to the calls for a debt restructure: “Voluntary Agreement” What is this? This is originally designed to provide relief to debts generated as a result of business …

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Ireland and Greece will help to bail-out Portugal

That’s lovely and shows real solidarity among the impoverished  of the euro zone. After they got bailout themselves, Greece and Ireland are going to put on the counter their own part of their own bailout loan to bailout Portugal. Then Portugal, a country seeking now a €90 billion bailout, had …

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Reuters: IMF denies pressing Greece on Debt Restructure

According to Reuters ,, the International Monetary Fund on Saturday denied a report in German magazine Der Spiegel that it was privately pressing Greece to restructure its debt. “As we have said consistently, the IMF supports the Greek government’s position of no debt restructuring and its determination to fully service …

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Der Spiegel claims: IMF wants Greece to Restructure Debt

Are we serious? Is this the reason the Troika will pay a non-scheduled visit to Athens? To prepare the ground for a debt restructure? Or is it just a sinister blackmail against the Greek government to speed up fiscal ‘reforms’ like exterminating tax evasion, lay offs in public administration, privatisation, …

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Greek economy? Thanks for asking…

How is Greek economy doing?  Apart from the failure to combat tax evasion, to cut state spending by trimming the  state apparatus and to boost development to escape recession…. thanks for asking! A BBC survey conducted among Euro economists show no good ahead. Two-thirds of the 52 respondents forecast a default! “The …

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