The Greeks have defied fear. But how will the European governments deal with their own fears? Specifically, how will they react to the possible light-speed contagion of Syriza's rebelliousness in Spain, Portugal and Italy?
QUITO -- No country -- including Greece -- should expect to be offered debt relief on a silver platter; relief must be earned and justified by real reforms that restore growth, to the benefit of both debtor and creditor. And yet, a corpse cannot carry out reforms. That is why debt relief and reforms must be offered together, not reforms "first" with some vague promises that debt relief will come in some unspecified amount at some unspecified time in the future (as some in Europe have said to Greece).
As Greece prepares to burn down its economy in the name of national integrity, the rest of Europe is watching cautiously. Will those crazy Greeks dit...
Although the eurozone is better equipped than it was in the past, it is still a highly imperfect monetary union. In fact, if Greece exits, new vulnerabilities will emerge, and there is no certainty other weak southern periphery economies will actually be protected. This may add to the many reasons for the two parties to reach an agreement this week, allowing Greece to remain in the eurozone. The alternative could be the beginning of the end of the euro.
Google thinks it's so great. That it's the best search engine in the world. Then why can it not answer any of my simplest, most pressing questions?
One can't blame journalists in Egypt for being confused about what they can (and can't) cover and what language to use in their reports, given the widening chasm between authorities and countless news organizations.
Now that Greece has voted NO on the latest European Commission-European Central Bank-IMF proposal (the so-called troika), will Greece stay in the Euro...
My 5-year-old was bawling her eyes out on the way home. She wanted an ice cream cone, a croissant, a bottle of orange juice, some cookies -- everything I had just explained she will have to cut down on while we have access to just 60 euros per day through the bank ATMs.
Now that the Greek public has thumbed its nose at Greece's international creditors by voting "no" in a referendum on their most recent bailout offer, negotiations with Greece on further bailouts should be summarily terminated.
Asked to explain their votes, Greek youth supporting "no" often framed their arguments in terms of dignity, pride, and revenge against institutions they blame for stalling their lives.
DUBLIN -- The decisive nature of the No vote should persuade European leaders to set aside their hopes of forcing regime change and to focus their minds on the practical implications of a Grexit. They need to acknowledge something that is widely accepted: that Greece cannot pay back all of the money loaned by Europe. Pushing Greece towards a euro exit is probably the strategy that will ultimately minimize the return of money to the creditors.
While Americans celebrated a long-ago victory against British colonial overlords, the small but proud nation of Greece stood up to reject the failed austerity economics proscribed by European bureaucrats that has driven the country into a debt-driven dependency and depression.
The No vote to austerity by a margin of 62 to 38 is a stunning vindication of Greek Prime Minister Alexis Tsipras's tactical gamble. The stakes, however, are larger than Greece. It's increasingly clear that the E.U. needs to change course -- not just to save Greece but to save itself.
The Greek crisis has made it painfully clear that the International Monetary Fund (IMF) needs a change at the top -- and that the U.S. must use its privileged position as the IMF's biggest contributor to insist on it.
As in 1940, despite the hard road mandated by their decision, the Greek people have placed national honor and dignity on a higher plane than the only other alternative on offer: an ultimatum based on collective indignity and national impoverishment .
Greece should refuse a false choice by turning in a blank ballot. Refuse in this way the elite-mongering decisionism from which this scandalous insult to voting arises. Let it all go down. Around that the leaders and negotiators will have to adjust. Maybe then some small and sober and unexpected light will appear.