Germany, not Greece, should say goodbye to the euro | Comment | ekathimerini.com.
Filed under: Eurozone crisis Tagged: Euro, European Union, Eurozone Crisis, Germany
. . . → Read More: Parchment in the Fire: Germany, not Greece, should say goodbye to the euro | Comment | ekathimerini.com
Is it the Euro or is it Angela Merkel – or both? Whatever the case, Merkel’s brutal subjugation of Greece has the neighbours outside the Eurozone good cause to think twice about joining the common currency, the Euro.
Once, it was an exclusive club that nearly all of Europe aspired to join. Now, in . . . → Read More: The Disaffected Lib: Guess Who’s Coming to Dinner? No One, Angela, No One.
Germany won’t spare Greek pain – it has an interest in breaking us | Yanis Varoufakis | Comment is free | The Guardian.
Filed under: Eurozone crisis Tagged: Austerity, Euro, Eurozone Crisis, Germany, Greece
. . . → Read More: Parchment in the Fire: Germany won’t spare Greek pain – it has an interest in breaking us | Yanis Varoufakis | Comment is free | The Guardian
Canadians aren’t too envious of Greeks, Italians, and Egyptians right now, but maybe they should be.
Though Canada has a relatively better economy and a stable political system, the other countries in the world facing crises have something Canada seems to be lacking, a resolve to make things better.
Facing financial collapse Greeks, who already . . . → Read More: The Scott Ross: Canadians Should Envy Greeks
Whenever social and economic crises develop, those in power always try to blame somebody else. For example, what caused the recession in the U.S. in 2008? Simple, it was the selfish poor who had the gall to think that they could afford to own their own homes. (And don’t pay any attention to the man . . . → Read More: Politics, Re-Spun: Blaming the People
It’s hard to make sense of the hubris and cruelty of European Union leaders towards Greece, unless their goal is to goad the Greek population into overthrowing their government. Why else would they demand from the Greeks ever greater levels of austerity, poverty and unemployment and then, when the government turtles and capitulates to their . . . → Read More: RedBedHead: Greece: You Say You Want A Revolution?
These remarks of Paul Krugman could easily apply to Canada, for it is essentially homeowners with their massively extended debt load who have bumped our debt to GDP ratio up to 203%, and we too require expansionary fiscal and monetary policies to support the Canadian economy. We won’t be getting them from Flaherty or Carney, . . . → Read More: Politics and Entertainment: descending down the pot-holed road of recession towards the sink hole of depression
Legends of the Fail – NYTimes.com Borrowing, if you must, in your own sovereign currency matters, and austerity never works. Here are the facts, though I coud add the caveat if I were a neoclassical economist that those high interest rates for Spain… . . . → Read More: Politics and Entertainment: Krugman on His Lucid Best on Euro Crisis and Its Implications
German Chancellor Angela Merkel, left, and French President Nikolas Sarkozy threaten Greek taxpayers with expulsion from the Eurozone if they don’t shape up and destroy the Greek middle class. European politicians may not be exactly as illustrated. B… . . . → Read More: David Climenhaga’s Alberta Diary: The fine points of democracy are all Greek to Albertans
Two final thoughts today on the Greek crisis: 1) Under immense political pressure from within his own party, the opposition, and the EU – i.e., Germany – Papandreou was forced to cancel the referendum. But the basic idea was a good one: he knew Germany… . . . → Read More: Politics and Entertainment: Cancelling the Greek Referendum and Angela Merkel’s Steely Focus
During the nineties, the predominant form of economic crisis that could hit a nation was the currency crisis whereby the value of a countries currency drops precipitously. Most infamously was the Asian financial crisis, whose effects rolled around the… . . . → Read More: Progressive Proselytizing: The similarities between debt crises and currency crises
Separate reports this week in the Swiss newspaper Neue Zuericher Zeitung (NZZ) are highlighting the difficult choices Switzerland, and by extension other nations, are facing in the continued onslaught of effective currency devaluation by US and Eurozone officials. The Greenback and the Euro have fallen significantly against the Franc and other currencies in the past . . . → Read More: World Headlines Review: Switzerland: Swiss Franc -ly Under Attack