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Tag Archives: eurozone

Greeks turn their back to Euro and the Eurozone

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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Biased and short-sighted Schaeuble could destroy Eurozone, not just Greece

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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Luxembourg, Ireland, Netherlands among worst tax havens

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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German Finance Ministry supports EZ’s Debt Relief plan for Greece

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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ECB’s Draghi: Solution for Greek Debt is in the interest of the Eurozone

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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Budgets of 8 EZ countries “at risk of non compliance”, but Commission gives them a 0.5% space

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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Pressure in Davos: Reports claim Schaeuble wants Grexit debate in 2016

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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Rebel Yell: BoG Stournaras warns “Germany is a threat for the eurozone, not Greece”

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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The IMF pushes Europe for formal restructuring of Greece’s debt

The International Monetary Fund pushes Greece’s European partners and lenders for a formal debt restructuring. This is what the IMF’s first deputy managing director, David Lipton, told in an interview with Bloomberg. IMF Pushes Europe for Formal Restructuring Accord on Greek Debt “Euro-area countries must commit to a formal restructuring …

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Great achievement after 5.5 austerity years: “36% of Greeks at risk of poverty”

Thousands of austerity measures, dramatic cuts in incomes, incredible hikes in taxes. Five and a half years in deep recession. Three bailout agreements. And where do Greeks stand now? On top of the Eurozone when it comes to poverty. More than one out of three Greeks, that is “36% of …

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Dismantling Greece and fed it to profit-hungry corporations

The Eurozone’s masks have fallen. Hardly anyone has anymore the illusion that the 3. bailout aims to facilitate Greece to pay back its debts and that it therefore needs  more austerity or “reforms” as they are euphemistically been called. On one hand the 3. bailout brings additional cuts in health …

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