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Tag Archives: eurozone

WSJ: IMF secret docs May 2010 “Greece’s rescue program was not sustainable”

Minutes of International Monetary Fund board meetings held in May 2010 and published by the Wall Street Journal on Tuesday have highlighted the concern of many country representatives that the Greek bailout was not sustainable. One of the key criticisms expressed during meetings held before Athens agreed its first bailout …

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Schaeuble, Dijsselbloem, Samaras & the other kids prepare a 3rd bailout for Greece

It’s a fact: Greece will get as third bailout and Greeks will have to deal with a new loan agreement imposing additional austerity to their already cut down lives. German Finance Minister Wolfgang Schaeuble said that directly, EU Monetary Commissioner Olli Rehn said that indirectly, Eurogroup head Jeroen Dijsselbloem said …

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Germany invites jobless EU youth to go there for work

5.501 million unemployed youth across Europe? 3.531 million jobless youth in the Eurozone alone? No problem for all those with or without university education who if lucky could find a temporary job as pizza boys and service girls for 400 euro per month. Germany opens its arms and welcome all the …

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Deutsche Bank: “Only Jesus can save the Eurozone”

Deutsche Bank‘s global head of FX strategy, Bilal Hafeez, recently gave a speech at the annual Deutsche Bank Mittelstand (small and medium-sized enterprises) FX conference in Hamburg, Germany. The bank’s research department transcribed Hafeez’s speech and sent it out to clients in a note. The speech focuses on the euro …

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A Very European Break Up: Satire on Greek-German Relations (Video)

It is not secret that relations between Germany and Greece are very troubled. If the two countries were a married couple, they would have certainly have to seek professional counseling, should they want to save their marriage. Bob Denham , a young British director, describes with humour not only the troubled Greek-German …

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Amato: If Greece Exits Euro, Italy is next; EuroZone is Like an Artichoke…

This statement was made by the former Prime Minister of Italy Giuliano Amato. ” If Greece exits the euro, the next could be us. Because the Eurozone is like an artichoke. Sooner or later the leaves may be cut off, “Amato told Italian daily “Il Messaggero“. With regard to Greece,  Giuliano Amato said: “On …

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EU-Commissioner Reding: Germany Must Do More To Save Euro

EU Justice-Commissioner Viviane Reding called German major companies to do more to support the euro as they benefit enormously from the single market and the currency union. German business must to do more save euro: EU’s Reding Germany’s top companies and executives must do more to support the euro, EU’s …

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49% of Germans Want Greeks Out Of the Euro Zone

49% of the Germans believe that Greece has to abandon the Euro zone. This is the result of a survey conducted by TNS Enmid for the German weekly FOCUS. According to the preliminary publication of the survey, 43% of the respondents believe that Greece has to remain in the eurozone, while …

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What Will Happen if Greece Leaves the Euro?

There is so much talk these days about a possible euro exit of Greece, especially under a left, anti-bailout government. I found an very interesting article about the consequences for Greece and the other Euro countries. The author, an Italian, asked several market experts on the impacts that “such a shock” would …

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BBC – Merkel Interview: Eurozone Must Avoid Greek Exit

German Chancellor Angela Merkel told BBC that it would be a huge political mistake if  debt-ridden Greece was allowed to leave the eurozone. In an exclusive interview to British broadcaster, Merkel warned that the eurozone would be “incredible weakened” without Greece. She openly said that Greece has still “a long and …

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IMF Report on Greece: Growth -2%, Unemployment 18.5% for 2012

Ominous are the forecasts of the International Monatery Fund for the Greek economy and it sees no exit from the black tunnel we are in. In its Global Report – Autumn 2011, published a couple of days ago, the IMF forecast shocking data for growth and unemployment. In fact it sees …

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Is the “Euro-Drachma” a solution for Greece?

Is the “Euro-Drachma” a solution for the Greek crisis? No, not, a coin featuring Euro on one side and Drachma on the other side, as an internet user posted in a Greek economic forum. But the  Euro-Drachma would be the currency to be used for the internal trade within Greece, …

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