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Greece Debt Crisis

European Banks Must Bolster Capital Cushions: ECB Official

Posted 09.15.2011 | Business

(Reuters) - Banks that barely passed the European financial stress tests must swiftly reinforce their capital, ECB Governing Council member Erkki ...

A Modern Monetary Theory Approach to Solving Greek Solvency

Warren Mosler | Posted 09.10.2011 | Business
Warren Mosler

Greece will restore national sovereignty, and regain control of the process of full compliance with the general EU requirements for all member nations, only when it restores its financial independence.

Potential U.S. Spending Cuts Might Further Weaken Recovery

Posted 09.10.2011 | Business

NEW YORK (Steven C. Johnson) - Two years removed from its worst recession since World War Two, the U.S. economy is still struggling to create jobs...

Could Europe's Political Project Go the Way of the US Confederacy?

James K. Galbraith | Posted 09.10.2011 | World
James K. Galbraith

Europe's political structure is also suspended between two stable formations: the federated nation state and the international alliance. This in-between structure is called a confederacy, and it is something that was tried and which failed in North America.

Punish the Bankers, Not the Public

Eric Margolis | Posted 09.10.2011 | Politics
Eric Margolis

Finance is our new state religion. The power of the banks must be curbed and brought under control. How many more crises do we need before this lesson sinks in?

Live From Greece

Arjuna Ardagh | Posted 09.06.2011 | World
Arjuna Ardagh

The lessons we can learn here are not from Greek politicians or economists, but how you and I can learn to fully enjoy our lives in the midst of the messes created by them.

Focusing All on Greece Ignores the Elephant in the Room

Amb. Vassilis Kaskarelis | Posted 08.31.2011 | Business
Amb. Vassilis Kaskarelis

Greece and its people take responsibility for their own failings and have launched an unprecedented effort to make them right. We will not, however, be held responsible for a global economic crisis, the roots of which lie elsewhere.

Postcard From Greece: This Should Not Be About Austerity, It's About The Future Of Democracy

Arianna Huffington | Posted 08.28.2011 | World
Arianna Huffington

Given that the Greeks invented democracy, it's only fitting that they're now being given the chance to reinvent it. As I found out during my trip to Greece last week, those really are the stakes.

Greek Riot Police Respond To Protestors With Tear Gas

AP | ELENA BECATOROS and DEREK GATOPOULOS | Posted 08.28.2011 | Business

ATHENS, Greece — Hours of rioting outside Greece's parliament left 46 people injured Tuesday, on the eve of a vote by lawmakers to adopt more pa...

El-Erian: European Debt Crisis Will Be Solved 'Through Default'

Posted 08.22.2011 | Business

TAIPEI - The head of PIMCO, the world's biggest bond fund, predicted that Greece and other European economies would default on their debts to reso...

An Open Letter to the People of Greece: Restore the Drachma

Ann Pettifor | Posted 08.21.2011 | Business
Ann Pettifor

Greece's elected politicians have plunged the country into a spiral of decline. Is there anybody on earth who seriously believes that austerity will restore the prosperity of Greece? Equally ludicrous is the idea that there is no alternative.

Global Markets Lifted On Hopes Greece Will Pass Confidence Vote

Posted 08.21.2011 | Business

LONDON (AP) -- Hopes that the Greek government will pass a crucial confidence vote later Tuesday, paving the way for the debt-stricken country to get ...

Fitch Still Sees Risk Of Greek, U.S. Debt Defaults

Posted 08.21.2011 | Business

SINGAPORE (Masayuki Kitano) - Fitch Ratings said on Tuesday that it would regard a voluntary rollover of Greece's sovereign bond maturities as a d...

Bonnie Kavoussi

As Greece Teeters Closer To Default, Investors Bet On Political Will For Preserving European Union | Bonnie Kavoussi | Posted 08.20.2011 | Business

As Greece teetered closer to the precipice of government default, investors appeared to come to the conclusion on Monday that although the troubled co...

Greece Faces Power Outages Due To Austerity Strike

AP | ELENA BECATOROS | Posted 08.20.2011 | World

ATHENS, Greece — Greece was hit by rolling blackouts Monday as employees at the main power utility began 48-hour rolling strikes to protest the ...

Greece Denied Loans, For Now

AP | GABRIELE STEINHAUSER | Posted 08.19.2011 | Business

LUXEMBOURG — Hours of talks between eurozone finance ministers on the imploding finances of Greece broke up early Monday morning without the min...

Jerry Brown's Radical Proposal That Voters Make Choices and Accept Consequences

David Paul | Posted 08.19.2011 | Politics
David Paul

The Golden State has now endured literally decades of budgetary trials and gimmickry, but for all the rhetoric about decline and bankruptcy, California's problems are political, not economic.

Greek Debt, And Coming To Terms With Reality

Bevis Longstreth | Posted 08.19.2011 | Business
Bevis Longstreth

Despite heroic efforts by the ECB and IMF, it remains highly unlikely that Greece can achieve the necessary reforms without the Greek people becoming convinced that those reforms will work and be worth the pain that individuals would have to endure to achieve them.

Greece Wracked By Political Turmoil In Debt Crisis

AP | NICHOLAS PAPHITIS | Posted 08.16.2011 | World

ATHENS, Greece — Greece was wracked by political turmoil Thursday as the embattled prime minister faced down a party revolt over new austerity m...

Bonnie Kavoussi

As Greek Default Becomes Increasingly Likely, Investors Flee to Safer Investments | Bonnie Kavoussi | Posted 08.16.2011 | Business

Stock prices around the world have fallen sharply in response to the growing likelihood that the Greek government could default on its debt and plunge...

Greece: Why We Are Angry and Desperate

Vaios Papanagnou | Posted 08.01.2011 | World
Vaios Papanagnou

As a journalist I feel that the Greek crisis is no longer an issue to be exhausted in the financial pages, and the detached reporting of the rise in unemployment, deflation, weekly demonstrations and marches.

Euro Endgame

Janet Tavakoli | Posted 08.01.2011 | Business
Janet Tavakoli

The European Central Bank is acting as if it can dictate terms to Greece, but Greece is a sovereign country. As U.S. banks found out, when someone owes you money and they can't pay it back, you are in as much trouble -- sometimes more -- as they are.

Greece Missed Fiscal Targets Under Bailout

Posted 07.29.2011 | Business

(Reuters) - Greece has missed all fiscal targets agreed under its bailout plan, a mission from an international inspection team found, putting fur...

Beware Greeks Bearing Banks

Robert Kuttner | Posted 07.22.2011 | Business
Robert Kuttner

After every financial debacle or war, there is a huge political struggle over whether creditors get to stand in the way of an economic recovery. Greece is the poster child for this dilemma, and the Greek story reveals the real villain of the piece.

Greek PM Rules Out Debt Restructuring

Reuters | Harry Papachristou | Posted 07.21.2011 | World

ATHENS (Reuters) - Greece must avoid debt restructuring and push on with budget cuts and privatisations to overcome its debt crisis, the country's...