Tag Archives: eurozone

A diplomatic incident with unknown outcome has occurred between Greece and the Czech Republic after the provocative statements made against Greece by President Milos Zeman. As consequence to Zeman’s statements, the Greek Foreign Ministry ordered its its Ambassador to the Czech Republic to return back to Athens “for consultations” as …

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The head of the Eurogroup, Dutch Finance Minister Jeroen Dijsselbloem warned that countries which fail to adequately guard Europe’s borders and do not take in a fair share of refugees could find themselves outside the borders of a future “mini-Schengen” zone. Dijsselbloem’s threats have two different targets: Greece that has …

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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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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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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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The controversial audio excerpt from the conference call between former Finance Minister, Yanis Varoufakis with international hedge funds representatives has been uploaded on internet. In the audio Varoufakis speaks of his Plan B project that contains among others also “hacking taxpayers’ registration numbers” and the creation of a “parallel banking …

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It is not that they could not. They did not want to find a solution and a “mutually beneficial agreement” as Prime Minister Alexis Tsipras had hoped. What they wanted is to create a financial monster out of Greece, “to put a Eurozone member country into a social, economic and …

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In her euro-hegemonic role Germany failed to properly handle the Greek Crisis. What economics have been whispering among themselves after the scandalous Brussels Agreement of July 13th is now on the public discussion. One of IMF’s former European bailouts official, Ashoka Mody made it very clear in his article on …

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A secret study by the International Monetary Fund showed that Greece needs far more debt relief than European governments have been willing to contemplate so far. The IMF study is an updated version of July 2nd as it takes into consideration the capital controls imposed since June 29th 2015. “Greece’s …

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The Monetary Union proved to be bad for Europe, for the idea of the European Project. Member states abandoned sovereignty as they cannot print money. They transferred financial and political independence to European Central Bank. It was a bad idea, anyway, as there wasonly monetary but not fiscal union. And …

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One can support the European Union and the Common Currency but on Greece’s example, the EU repeatedly proven in the last 5 years that it has little to do with “common ideals” and the much praised “European solidarity.” the Greek example and the way EU politically dealt with it increased …

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Greece leaving the eurozone, dubbed the ‘Grexit’, would be a major blow for the European Union, as it would trigger a domino effect and eat deeply into taxpayers’ pockets, said the Greek Prime Minister Alexis Tsipras “I think it’s obvious. It would be the beginning of the end of the …

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Minimum wage across the eurozone and the European Union and the rest of the old continent as well in Eurasia and the countries around the Mediterranean basin. 50 Shades of wages in an unbalanced world.   Sourc: Wikipedia/Eurostat – Graphics by Jo Di Graphics . A minimum wage is the …

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Another scenario is making the rounds to keep the media busy and the Greek clock ticking. This time it is some EU officials claiming that Greece will allegedly be allowed to skip payment to the International Monetary Fund (IMF) on June 5 and have time to negotiate a funding deal …

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Things are not always as they seem to be. While millions of Europeans thought that the Greek Eurovision song was about a broken heart and desperate love with all essential emotions of betrayal, endless pain and struggle… Alas! The lyrics of  “One last Breath” sung by Maria Elena Kyriakou could …

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It has been confirmed again and again, despite Schaeubles & Co, despite the harsh austerity, despite the internal devaluation of the people’s incomes due to inability to devalue the common currency: The majority of Greeks want the country to remain in the Eurozone. Even if this mean a new bailout …

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IMF’s chief economist Olivier Blanchard expressed hope that there will be an agreement with Greece, however he stressed at the same time that a Greek crisis cannot be ruled out. By “Greek crisis” Blanchard probably meant a “Greek exit from the euro” because as everybody knows since long ago that …

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A new scandal alleging bribes totaling €62 million paid for armament contracts have been revealed by Deputy Defense Minister Nikos Toskas. The case involves two German companies, 12 Germans and unspecified number of Greek officials in the Defense Ministry.  Talking to To Kokkino FM on Friday, Toskas revealed that there …

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“Negotiations with creditors will not be easy,” but “we will negotiate a new agreement – a bridge between Greece previous programs and the new“”  Yanis Varoufakis said in his first speech as the country’s new Finance Minister, while he was receiving his new portfolio by ex FinMin Gkikas Hardouvelis. He …

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The eurozone has ruled out debt forgiveness for Greece and warned Alexis Tsipras that his anti-austerity coalition government must honor all past agreements with international creditors. In a meeting of eurozone finance ministers in Brussels on Monday, a day after left-wing SYRIZA won the parliamentary elections, the euro bosses warned …

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