Tag Archives: euro

Germany and the Netherlands have benefited enormously from the euro over the 20 years since its launch, while for almost every other member the single currency has been a serious drag on economic growth, a study has found. For Greece the gains are anything but profitable, as citizens became richer …

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“Greece was never bailed out – it remains a debtor’s prison and the EU won’t let go of the keys,” writes former SYRIZA finance minister Yanis Varoufakis on the occasion of creditors and the Greke government to have cheered the exit from bailout. Punitive conditions attached to the ‘rescue’ package …

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As Greece leaves the three-year bailout program, former financial minister Yanis Varoufakis came up with a radical solution. He reportedly urged Athens to ditch the euro and return to drachma. In an article with the title “Ditch the euro and bring back the drachma” the Times quoted Varoufakis as saying …

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Turkish President Recep Tayyip Erdogan tried on Friday all means to save the Turkish lira. he urged citizens to rush to the banks and convert their deposits in dollar, euros and gold into the national currency. “It is a national struggle. It is going to be my nation’s response to …

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Turkish President Recep Tayyip Erdogan called on Turkey’s citizens to convert their dollar and euro savings into lira, as he sought to bolster the ailing currency which has lost some 20 percent of its value against the U.S. currency this year. Erdogan’s call comes also amid rumors about upcoming capital …

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New morals in recession Greece. We know that employers delay salary and wage payments or that they pay in vouchers. But workers’ payment in kind and thus in form of drugs? Never heard of this before…. Land workers in Peloponnese received their wage not in euro but in form of …

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Former Italian Prime Minister Silvio Berlusconi touted the idea of a currency parallel to the Euro. The European Commission shot the proposal down right away. However, the former Prime Minister could be a strong card in the next elections May 2018. According to Berlusconi’s plan, the parallel currency would be …

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The European Commission presented on Wednesday (31 May) its proposal to “move forward” on eurozone integration with a treasury, a finance minister and several instruments to make the financial sector less vulnerable to crises. incl the issuing  of “eurobonds” that are proposed as “safe asset”. The Commission document calls on …

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“The EU and the euro always commanded the support of the majority of European citizens.” President of the European Central Bank, Mario Draghi said on Thursday. Draghi was speaking during a ceremony where he received a honorary doctorate form the University of Tel Aviv. Key highlights from Mario Draghi’s speech: …

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Independent candidate Emmanuel Macron, 39, is clearly the winner of the second round of Presidential elections in France. According to latest results Macron wins by margin of 65.1% to 34.9% for right-wing Marine LePen.   Voter turnout set to be lowest since 1969 Abstention at 25% 12% of voters cast …

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Should the eurozone fall apart and states return to their own currencies, the Greek Drachma would depreciate at 7.5% percent against the euro. This is the calculation of  a study published by the Bank of America. The study with title “The day after the euro” has been conducted by Athanasios …

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What do Germans think of Grexit?  The financial situation of Greece has split the German public opinion. In a poll conducted for German weekly STERN, a narrow majority would accept Greece abandoning the eurozone. Whether the heavily indebted Greece will receive additional billion credits depends on the implementation of the …

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German Chancellor Angela Merkel suggested on Saturday that the euro was too low for Germany but made clear that Berlin had no power to address this “problem” because monetary policy was set by the independent European Central Bank. Merkel made her remarks at the Munich Security Conference as U.S. Vice …

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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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Germany’s central bank is bringing home gold reserves stored in places like New York and Paris faster than planned. The schedule was set for 2020. The move has the world puzzling as confidence in the euro ebbs even in the heart of the currency bloc after a decade of a …

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The deep rift between Greece’s European lenders and the International Monetary Fund leads to nothing else than to a delay in the conclusion of the second review. For one more time, the rift has triggered fears that another Greece debt crisis is looming and that even a default was at …

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Short and shocking. But possibly also just stupid. Trump’s leading candidate for the post of US ambassador to the European Union, Ted Malloch, is said to have revealed the intentions of the US administration to Greece’s debt crisis. Malloch’s statement have set at least the Greek media on alert, his …

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It is not secret that Germany categorically opposes the policies of the European Central Bank. What bothers German most are the zero interest rates. However, economically strong Germany is the winner of the opportunities a weak euro offers.  Economists predicts that this year, Germany’s current account surplus would probably hit …

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Greeks have seen this film of  “Greece Blame Game” a thousand times since 2010. At first, it was the Euro crisis, now it is the Refugees. For the European “partners” economically weak Greece is the easy target that can be blamed everything, for all problems of the European Union.  EU’s …

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Many Greeks have been wondering what is the purpose of the snap elections scheduled for September 20th? Some answer the question replying “Tsipras could not govern with the support of the opposition but without the support of his own MPs,” others warn that “with such a huge debt and such …

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