Tag Archives: eurozone

The President of the European Commission, Jean-Claude Juncker revealed his vision of a European Union in full integration. In his speech about the State of the EU 2017,  Juncker called to speed up the EU integration. His speech at the European Parliament lasted more than one hour. Below some quotes …

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German Chancellor Angela Merkel considers that the situation in Greece of strict austerity, bailout agreements and income decreases “is in a much better state than a year ago.” She also expressed confidence that when Greece implements the outstanding 100+1 austerity measures of the third bailout agreement and its revisions  “more …

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European Commission President Jean-Claude Juncker has claimed he “fought hard” in 2015 to prevent Greece being expelled from the single currency, and ensure the stability of the economically ravaged country. Greek society may beg to greatly differ. In an interview with Politico.eu, Juncker claimed he stuck up for Greece against stiff opposition …

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Greek Economics Minister Dimitris Papadimitriou has accused German Finance Minister Wolfgang Schaeuble of being “dishonest” by blocking debt relief for Greece despite his acknowledgement that Athens has implemented significant reforms. Papadimitriou told German newspaper Die Welt in an interview published on Thursday that Schaeuble first had acknowledged that Greece had …

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“Poor Alexis Tsipras”,  “Greece’s debt relief is hostage to Berlin’s elections politics”, “Greece is Germany’s de facto colony.” Based on an interview with Polish Foreign Minister Witold Waszczykowski, where he explains why Poland does not want to join the Eurozone, Politico EU writes, among others: From the beginning of the …

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Opponents of Greek debt relief claim there will be an extra financial burden on Eurozone member states and their taxpayers. This is not true, says Eric Dor, Director of Economic Studies at IESEG School of Management in Lille, France. Below Eric Dor’s position Why a lengthening of the maturities of …

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The Eurogroup meeting on Monday was another disgrace for the 18 eurozone finance ministers. According to reports by Brussels correspondents, German finance minister Wolfgang Schaeuble spent hours of discussing with Poul Thomsen, the Europe representative of the International Monetary Fund, on the Greek issue. Behind closed doors. The rest of …

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From Monday afternoon till Tuesday dawn of Tuesday, Greek government and creditors’ representatives sat in Hilton hotel for the fine touch on outstanding issues. The results is an additional austerity measures package without extra financing. This practically means a two-year extension of the bailout agreement Greece and the European creditors …

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European Commission President Jean-Claude Juncker urged euro zone countries to draw up more debt relief measures for Greece next month. He said that Athens needed help after making “huge progress” in its economic reforms. “Further pension cuts is a bad advice,” Juncker said. In an interview to Greek economic news …

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What is happening to Europe of austerity? Difficult to explain. Cheshire Cat has a post about it. Calvinomics  I have given up using economics to explain the rationality behind what happens in Europe. ‘European values’, as represented by every treaty since Maastricht 1992, are the rules and order of ordoliberalism. …

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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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Who is to blame for ruining the European Union? According to a list published day, twelve people and ‘things’ are to blame for having ruined the EU. No, Greece as such is not on the list. But Zeus, the top god of Ancient Greece tops the list. And another Greek. …

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Europe is not defending its own accomplishments, its heritage and social model and has surrendered to the International Monetary Fund (IMF), which explains its existential crisis, Prime Minister Alexis Tsipras said on Thursday evening, addressing an event organized by the Transform! Europe network, in Rome’s “La Sapienza” University. “We are …

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The hell broke out in the European Union , the eurozone, the Eugroup and the European Parliament. Acting Dutch finance minister and head of Eurogroup, Jeroen Dijsselbloem, has been obviously suffering from a nervous breakdown since the Dutch elections last week. Instead of staying home and cry, he gave an …

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I can’t help but remember German Finance Minister Wolfgang Schaeuble every time I read somewhere the word “Puerto Rico.” In 2015, Schaeuble offered  US-Treasury Secretary Jack Lew swap burdens of Puerto Rico with those of Greece. Would the swap have been a good deal for Germany and the Eurozone? Hardly. …

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Heavily indebted Greece is one of the reasons the Eurozone could break up. The threat is 50 percent real despite the many crises both Greece and the Eurozone have already survived. However, Greece is not alone. France and Italy pose a threat for the Eurozone. The time of PIIGS is …

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Greece must decide whether it wants to remain in the eurozone, German Finance Minister Wolfgang Schaeuble said on Tuesday, adding Berlin is open to discussing debt relief for Athens in 2018 if such a step is needed. He also said debt relief for Greece was not an issue at the …

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Greece holds the top fourth position among the countries that are getting more miserable in 2017. According to Bloomberg’s Misery Index, it is Venezuela that tops the list for one more time. Venezuela is followed by South Africa, Argentina, Greece, Turkey and Spain. If 2016 was the year of political shocks, …

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Treasury Secretary Steven Mnuchin made it clear that the Trump administration does not think much neither of the European Union, nor the Eurozone nor Greece. In an interview to the Wall Street Journal, Mnuchin suggested that the US wants the International Monetary Fund to stick to its hard line on …

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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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