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Greece and the Eurozone: Politics Trump Economics

Daniel Speckhard | Posted 06.12.2016 | World
Daniel Speckhard

Greece and the Eurozone will find a way through this latest trouble. A Greek exit would create a nightmare for Greeks, with bank runs, capital controls, further economic contraction and dislocation.

France Suffers Another Defeat In Battle Of Waterloo ... Coin Controversy

The Huffington Post | Charlotte Alfred | Posted 06.09.2015 | World

As the 200th anniversary of the Battle of Waterloo approaches, France suffered another galling defeat as Belgium exploited a eurozone loophole to mint...

Will a Grexit Be the Lehman-Like Trigger of the Next Global Financial Crisis?

Joseph E. Stiglitz | Posted 06.08.2016 | World
Joseph E. Stiglitz

NEW YORK -- Some in Europe, especially in Germany, seem nonchalant about a Greek exit from the eurozone. The market has, they claim, already "priced in" such a rupture. Some even suggest that it would be good for the monetary union. I believe that such views significantly underestimate both the current and future risks involved. A similar degree of complacency was evident in the United States before the collapse of Lehman Brothers in September 2008.

What Is About To Crash - The Markets, The Economy? Neither, Even If Greenspan (Who?) Says So!

Terry Connelly | Posted 05.15.2016 | Business
Terry Connelly

It's late spring, and the Chicken Littles are back. They don't fly but they do cluck.

The Perfect European City For Older Independent Travelers

Jon Weisberg | Posted 05.07.2016 | Fifty
Jon Weisberg

Like others our age and with years of travel under our belts, my wife and I avoid group travel. We prefer to curate our own itinerary, pack light, explore at our own pace, and avoid the necessity of small talk with fellow travelers we'll never see again.

On the Great Inflation Canard

Steve H. Hanke | Posted 06.02.2015 | World
Steve H. Hanke

Recall that the world of that era was one in which the fixed exchange rates ruled the roost. That's not today's world. Indeed, many important currencies now float. Since the world adopted a flexible exchange-rate "non-system", changes in inflation can strike like a lightning bolt.

5 Places That Use the Euro But Aren't in Europe

Conde Nast Traveler | Posted 05.23.2015 | Travel
Conde Nast Traveler

Think outside the box -- or the continent of Europe -- and get creative with your travel planning. Here are Euro-using places outside of the European continent where your buck will go farther than ever.

5 Reasons You Should Quit Your Job To Travel Now

Clayton B. Cornell | Posted 03.20.2015 | Travel
Clayton B. Cornell

Stop kidding yourself. How long has it been since you said, "If I just get to X, I will take that trip"?

Obama's New $18.152 Trillion Debt

Natalie Pace | Posted 05.17.2015 | Politics
Natalie Pace

We should have until September before the Debt Ceiling debate starts making headlines again. If there is a backdoor deal, there will be an uneasy calm, and relief, on Wall Street. If the debate heats up, then volatility is likely to roil the markets.

Syriza's First 'Defeat' -- What Does It Mean?

Thanos Dimadis | Posted 04.26.2015 | World
Thanos Dimadis

For the moment what matters for the vast majority of Greek people is that for the first time they feel they have a government which, despite its compromises, has proved that it made its best effort to bring Europe back to the table for a fair and equal negotiation about the terms of the Greek bailout program.

9 Places That Are Surprisingly Cheap This Year

SmarterTravel | Posted 04.26.2015 | Travel
SmarterTravel

Call it the year of the bucket list. A strong dollar in destinations around the world is making this an amazing time to go farther and do more for much, much less in 2015.

Grexit for the Good of the Eurozone

Russell Green | Posted 04.25.2015 | World
Russell Green

If the Greeks leave the Eurozone, it would be awful. Both Greece and the remainder of the euro area would experience damaging volatility and uncertainty. But "Grexit" does not have to be all bad.

IOU 240 Euros, It's My Problem; IOU 240 Billion Euros, It's Your Problem!

Terry Connelly | Posted 04.19.2015 | Business
Terry Connelly

The first thing to know is that nobody should sell or buy a lot of US stocks or bonds because of the unfolding late-inning melodrama between the new g...

Austerity Policy or Tool ?

Michael Radou Moussou | Posted 04.13.2015 | Politics
Michael Radou Moussou

Any politician opting this evening for the continuation of the Greek Austerity program should be aware of these facts and try finding a more viable and less amateurish solution for the future not only of Greece but of the entire Eurozone.

Angry Greeks Threaten to Halt European Juggernaut

Doug Bandow | Posted 04.12.2015 | World
Doug Bandow

A breakdown of the European bailout program might make a Greek exit from the euro ("Grexit") the only feasible option. And the popular revolt against outsiders dictating economic policy creates a huge new roadblock to attempts to expand Brussels' power over EU members.

A Greece Reading List (Or, Why The Euro Is Doomed)

Druce Vertes, CFA | Posted 04.05.2015 | Business
Druce Vertes, CFA

Unless the political and economic integration catches up, a sufficiently big crisis will inevitably rip up the Euro zone.

The Greek Elections and European Absurdity

Kostas Vergopoulos | Posted 04.04.2015 | World
Kostas Vergopoulos

If there is one thing that has poisoned the European economy after the 2008 crisis, it is the German idea that a purge comes before a recovery.

Swexit: How Switzerlands' Prudent Economic Policies Got It Into Trouble

OpedSpace | Posted 03.30.2015 | Business
OpedSpace

On January 15, the Swiss National Bank (SNB) shocked international markets by abandoning the 3-year-old exchange rate floor of 1.20 Swiss Franc (CHF) per Euro (EUR). Put simply, this means that the SNB stopped spending billions of Swiss Francs to buy euro-denominated bonds.

A Break in the Greek Tragedy

Robert Kuttner | Posted 03.27.2015 | Politics
Robert Kuttner

Europe should count itself lucky that a leftwing anti-austerity party won the Greek elections, swept into office by citizens who've had enough. Elsewhere in Europe, seven years of stupid, punitive, and self-defeating austerity policies have led to gains by the far right. If a radical left party is now in power in Athens and sending tremors through Europe's financial markets, the EU's smug leaders and their banker allies in Frankfurt, Brussels and Berlin have only themselves to blame. Alexis Tsipras, leader of the winning Syriza coalition, says he doesn't want Greece to leave the Euro. He just wants Europe's leaders to renegotiate Greece's debt. It's about time. This crisis could have ended years ago with far less suffering for ordinary people who had no responsibilities for the offending policies. Greece, after all, has about two percent of the EU's total economic product -- and it has about 25 percent less than it had before the crisis. Writing off Greece's debt outright would have cost peanuts, and still would.

European Central Bank Launches 1 Trillion Euro Stimulus

Reuters | Jonathan Gould and John O'Donnell | Posted 01.22.2015 | Business

* ECB launches bond-buying program with new money * Amounts to 60 bln euros a month together with existing schemes * Program to run until end-Se...

Swiss National Bank: Well Played!

Janet Tavakoli | Posted 03.18.2015 | Business
Janet Tavakoli

The market reaction was brutal, punishing the Euro and every foreign exchange and options trader on the wrong side of this trade. Some forex trading firms will go under. Foreign exchange trading desks within banks are, of course, part of ongoing unwilling taxpayer largesse.

3 Reasons The Euro Just Crashed To Its Lowest Level In 11 Years

The Huffington Post | Mark Gongloff | Posted 01.16.2015 | Business

Book that European vacation now, America: It hasn't been this cheap in 11 years. The euro was in a crashy mood on Friday, briefly falling to its lo...

Monetary Union Works Because Europe Is Already Integrated

Mario Draghi | Posted 03.10.2015 | World
Mario Draghi

There is a common misconception that the euro area is a monetary union without a political union. But this reflects a deep misunderstanding of what monetary union means. Monetary union is possible only because of the substantial integration already achieved among European Union countries -- and sharing a single currency deepens that integration. If European monetary union has proved more resilient than many thought, it is only because those who doubted it misjudged this political dimension.

The Political Consequences of Inequality

Harlan Green | Posted 03.10.2015 | Business
Harlan Green

Europe is now suffering the same fate, with conservative governments in control and the debtor nations such as Greece still being punished, while Germany flourishes as it protects its own interests rather than that of the EU as a whole

The Future of Europe

Jaime Pozuelo-Monfort | Posted 03.02.2015 | Politics
Jaime Pozuelo-Monfort

Think about it. One hundred years back Europe started The Great War. No need to repeat what everyone can read today on Wikipedia.