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European Central Bank

This Is the Right Time for Higher Interest Rates: Nothing to Be Afraid of

Georges Ugeux | Posted 08.28.2015 | Business
Georges Ugeux

We have had enough of those policies that favor markets and financial institutions to the detriment of the rest of the economy. The Federal Reserve has been waiting too long to correct the current abnormal situation. The IMF is wrong to encourage it to do so.

No Way Out: A 21st Century Greek Tragedy

Joseph V. Micallef | Posted 08.10.2015 | World
Joseph V. Micallef

The EU cannot acknowledge that Greece is bankrupt or that its Greek debts are uncollectible because, at least for now, no European leader wants to take blame for losing billions of Euros of national wealth.

In Defense of Varoufakis

Mohamed A. El-Erian | Posted 08.03.2015 | World
Mohamed A. El-Erian

LONDON -- When push came to shove, Varoufakis faced the difficult choice of going along with more of the same, despite knowing that it would fail, or trying to pivot to a new approach. He bravely opted for the latter. While his brash style undermined outcomes, it would be a real tragedy to lose sight of his arguments (which have been made by many others as well).

From Greek to Euro Crisis: How German Ideology Is Destroying Europe's Future

Jakob von Uexkull | Posted 08.03.2015 | World
Jakob von Uexkull

The EU must and can settle internal deficits and surpluses, as long as these remain within the euro zone. Therefore, a better integration of economic and fiscal policies and a significant increase in economic transfers within the euro zone are needed.

Soulless Economics

Robert Koehler | Posted 07.16.2015 | Politics
Robert Koehler

An allegedly impersonal economic structure, which quietly benefits the infinitesimally few who have far more than they need, is no foundation for our future.

MoveOn and Robert Reich: Save Greece and Reject Global Austerity

Robert Naiman | Posted 07.13.2015 | Politics
Robert Naiman

MoveOn and Robert Reich have launched an emergency campaign to press the Obama administration to use its influence in the International Monetary Fund to push for a just end to the crisis in Greece.

Jamie Galbraith: The Greek Revolt Threatens European Elites

Lynn Parramore | Posted 07.09.2015 | Politics
Lynn Parramore

Here Galbraith discusses the last week's dramatic turn of events and what is at stake going forward as the austerity doctrine -- and the entire neoliberal project -- come under threat.

Zach Carter

Why Obama Is Leaving Greece To Fend For Itself Against Germany

HuffingtonPost.com | Zach Carter | Posted 07.08.2015 | Politics

WASHINGTON -- The Obama administration is effectively sitting out the contentious talks over the festering economic crisis in Greece, despite increasi...

Here's How Ordinary Greeks Are Living With Closed Banks And ATM Limits

The Huffington Post | Nick Robins-Early | Posted 07.07.2015 | World

Negotiators are working in Brussels this week to reach a deal on Greece's worsening debt crisis. Meanwhile, across Greece, banks are closed and capita...

Who Knows What's Next For Greece? Google, Hopefully

The Huffington Post | Alexandra Ma | Posted 07.06.2015 | Technology

Moments after the Greeks rejected an austerity deal from the EU, they took all of their unanswered questions to Google.

Greece Has Reached Its Threshold of Pain

Daniel Wagner | Posted 07.06.2015 | World
Daniel Wagner

It should not have come as a surprise that the majority of Greek voters opted not to accept more externally-imposed austerity, by voting "no" in Sunda...

OXI! Greek Voters Stand Up for A New Deal

Dan Siegel | Posted 07.06.2015 | Politics
Dan Siegel

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.

PHOTOS: Greeks Prepare For Crucial Referendum

The Huffington Post | Alexandra Ma | Posted 07.02.2015 | World

Greece was on edge on Thursday, days ahead of a controversial referendum on the country's economic future. Scheduled for Sunday, the referendum wi...

The EU, the Grexit, and Market Failure

Daniel Wagner | Posted 06.26.2015 | World
Daniel Wagner

An orderly unwinding of Greece's and Europe's debt is possible. If it could be done in the U.S., when a third of all savings and loans associations failed in the 1980s and 1990s, something similar can be done in Europe.

Greece Has Made Tough Choices. Now It's the IMF's Turn.

James K. Galbraith | Posted 06.17.2015 | World
James K. Galbraith

ATHENS -- The IMF and Greece's other creditors have assumed that massive fiscal contraction has only a temporary effect on economic activity, employment and taxes, and that slashing wages, pensions and public jobs has a magical effect on growth. This has proved false. Indeed, Greece's post-2010 adjustment led to economic disaster -- and the IMF's worst predictive failure ever.

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

Terry Connelly | Posted 05.19.2015 | Business
Terry Connelly

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

'Evil Back Upon Itself Recoils'

Nancy K. Humphreys | Posted 05.26.2015 | Business
Nancy K. Humphreys

The eurozone is playing a dangerous game with Greece. Officials are treating the Greek crisis of payments as a liquidity problem. And that's true as far as it goes. But Milton's famous line from Paradise Lost in the title of this post may still be true for the European Union.

How Tsipras Squandered Greece's Opportunity

Joschka Fischer | Posted 06.30.2015 | World
Joschka Fischer

BERLIN -- Tsipras squandered Greece's opportunity, because he and other Syriza leaders were unable to see beyond the horizon of their party's origins in radical opposition activism. They did not understand the difference between campaigning and governing. Realpolitik, in their view, was a sellout. Of course, it is precisely the acceptance of necessity that marks the difference between government and opposition.

This Is the Way out of the Greek Debt Crisis

Yanis Varoufakis | Posted 06.27.2015 | World
Yanis Varoufakis

ATHENS -- The current disagreements with our partners are not unbridgeable. Our government is eager to rationalize the pension system (for example, by limiting early retirement), proceed with partial privatization of public assets, address the non-performing loans that are clogging the economy's credit circuits, create a fully independent tax commission and boost entrepreneurship. The differences that remain concern how we understand the relationships between the various reforms and the macro environment.

Financial Risks Rise Amid Uneven Global Economic Recovery

José Viñals | Posted 06.15.2015 | Business
José Viñals

Additional policy measures -- beyond monetary policies -- are vital to make a durable exit from the global financial crisis and to safeguard financial stability. Crisis legacies need to be addressed. The traction of monetary policies must be increased with complementary reforms and financial excesses need to be contained.

Why Europe's Deflation is Everyone's Problem

Helen I. Hwang | Posted 06.13.2015 | Politics
Helen I. Hwang

Deflationary forces have been kicking up turbulence in Europe, prodding eurozone leaders to finally embrace quantitative easing (QE) as a way to drive economic growth.

Why Europeans Are Trying to Burn Down Their Central Bank

Mark Dawson | Posted 06.13.2015 | World
Mark Dawson

BERLIN -- Great crises often produce enduring images. For the Israeli-Palestinian conflict, this has often been a terrified child cowering behind protective parents; for 9/11 it was brave firemen rushing headlong into collapsing buildings. Last month saw what could become one of the lasting images of Europe's unending crisis: the sight of burning cars and buildings after riots outside the European Central Bank.

Protesters, Police Clash Near ECB In Frankfurt

Reuters | John O'Donnell and Paul Carrel | Posted 05.17.2015 | World

By John O'Donnell and Frank Siebelt FRANKFURT, March 18 (Reuters) - Anti-capitalist protesters clashed with riot police near the ne...

Why Is a Central Bank Taking the Risks of Quantitative Easing?

Stefan Bielmeier | Posted 05.15.2015 | Money
Stefan Bielmeier

Surging liquidity, more risk on the balance sheets of banks and insurers, sky-high valuations in individual asset classes -- these are some of the already visible consequences of the ECB's policy, and the trend is set to continue.

Next Up, Podemos in Spain: European Officials Will Have to Change Course

Mark Weisbrot | Posted 05.13.2015 | World
Mark Weisbrot

Greece's Syriza party has put its foot down to demand an end to the troika's agenda, and now Spain's Podemos party has risen even more quickly than Syriza to join them. This is what democracy looks like -- even the rigid, unaccountable structure of the eurozone will not be able to stop it from spreading.