Tag Archives: eurozone

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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German Chancellor Angela Merkel struggles to keep a safety distance to two of her cabinet ministers who carry their election campaign on the back of Greeks: Finance minister Wolfgang Schaebule (CDU) and Foreign Minister Sigmar Gabriel (SPD) On Monday, Merkel sent her spokesman reporters to assure Greece and the Euro-world …

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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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 German Finance Minister Wolfgang Schaeuble warned Greece Wednesday night “to fulfill its reform commitments, otherwise it would have to leave the Eurozone.” Speaking at a talk show at the German state ARD TV, Schaueble said also that pressure on Greece must be maintained.” “They are not over the mountain, therefore …

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“If Schaeuble continue this policy then we will see bilateral agreements between countries of the [European] south, there is no other. Discussions between the French, Spanish, Portuguese and Greek diplomacy are already on the way. We do not cede the euro to anyone, if Germany wants this then Germany should …

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SYRIZA lawmaker and former Alternate Minister of Culture Nikos Xydakis shocked the political world and the public opinion on Tuesday morning when he implied a possible Greek withdrawal form the eurozone. Xydakis said that speaking about Drachma is a taboo and that there should be no taboos when we speak …

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In a stunning admission, chief of European Central Bank, Mario Draghi said that a country can leave the Eurozone but must “Settle its Bill First”. He practically gives the green light to EZ member states wanting to leave the monetary union. In a letter to two Italian lawmakers in the …

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The Greek public opinion has changed its attitude towards the euro and the eurozone. While in the first years of the bailout agreements the majority of Greeks supported the euro with around 70%, now Greeks have changed their mind. No wonder after seven years of strictest austerity and internal devaluation …

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“European institutions are not the home of rational debate that influences outcomes. But if the rules-are-rules narrative is not replaced it will lead to the break up of the Union.” This has been written among other by Greek Finance Minister Euclid Tsakalotos and posted in Open Democracy. Here an excerpt …

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German Finance Minister Wolfgang Schaeuble did not miss the chance for a last minute intervention aiming to influence the Euro Working Group meeting today to evaluate whether the Christmas bonus for low-pensioners is compatible with the creditors’ commandments. The German Finance Minister warned that such measures as the Chrsitmas bonus …

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The sudden suspension of Greece’s short-term debt relief measures on Wednesday evening (14 December) has sparked fierce criticism by a number of EU officials. EU commissioner Pierre Moscovici, European Parliament president Martin Schultz, French president Hollande and finance minister Michel Sapin, along with many MEPs from the GUE/NGL, S&D and …

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A report published by the charity non-governmental organization OXFAM exposes the worst offenders in the ‘race to the bottom on corporate tax.’ Luxembourg, Ireland, Cyprus, and the Netherlands are among the world’s 10 worst tax havens, despite an ongoing EU crackdown on tax avoidance and profit shifting across the bloc. …

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The euro-zone member states are planning a new round of debt relief for Greece that would allow the country to profit from low interest rates, Handelsblatt has learned. The currency union’s bailout fund, the European Stability Mechanism or ESM, would secure Greece against rising rates by offering the country bonds …

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A solution for the Greek Debt is in the interest of the eurozone, chief of the European Central Bank, Mario Draghi said on Monday, speaking at the Economic and Monetary Committee of the European Parliament. Answering a question posed by Giorgos Kyrtsos, MEP of conservative New Democracy, Draghi stressed  that …

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The European Commission is warning eight Eurozone member countries including Italy and Portugal that their national budgets plans for 2017 are “at risk of non compliance” with EU’s budget rules. Besides Italy and Portugal, these countries are Spain, Belgium, Finland, Slovenia, Cyprus and Lithuania. Another five Eurozone members are “broadly …

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The German economic recipe to ruin the Eurozone is through wage race to the bottom? According to Institute of German Economy in Cologne: Export success – Cost matters The international comparison shows: The lower the unit labour costs – the ratio of labour costs to productivity – compared to the …

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“Greece Was the Prologue – Austerity experiments in Greece set the stage for a radical restructuring of Europe by elites.” A wise truth that we have been suspected long ago. Economist Elias Ioakimoglou, a adviser to the Institute of Labour (Greek General Confederation of Workers), describes the resultant crisis that …

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President of the European Central Bank, Mario Drahi, called for structural reform of the Eurozone and called on the 19 members to proceeded with them as soon as possible. The cost of delaying structural reforms is “too high, by hurting labor and productivity that reduces economic potential in the long …

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A storm is brewing over Greeks’ heads with German Finance Minister Wolfgang Schaeuble to insist on Grexit? According to Wall Street Journal, Greek Prime Minister Alexis Tsipras is trying his best to avert a fresh confrontation over Greece’s bailout, the country’s broken finances and the participation of the International Monetary …

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Bank of Greece governor and former Memorandum of Understanding II Finance Minister Yannis Stournaras finally ound back to his rebel alter ego of social democracy and other nice stuff. Apparently tied of being a slave of the creditors, rebel Stournaras raised his head and attacked … Germany. “The present risks …

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