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Greece Economy

Songs of the Doomed

David C. Wittig | Posted 11.23.2015 | World
David C. Wittig

Greece is being starved to death by a lack of capital. End the starvation, and the economy will turn around very quickly. In this case, starvation is the NPLs. The non-performing loans are strangling the Greek economy.

The Tipping Point?

David C. Wittig | Posted 11.07.2015 | World
David C. Wittig

If Greece continues to refuse to deal with the NPL problem, it is only a matter of time before the Europeans simply cut the Greeks off completely.

The Tipping Point?

David C. Wittig | Posted 11.07.2015 | World
David C. Wittig

Question ... "When is the tipping point?" Do you recognize it before it happens or only after? Has Greece already tipped over? The current governme...

Yet Another Deadline in Athens

David C. Wittig | Posted 10.09.2015 | World
David C. Wittig

The situation in Greece is approaching a nuclear meltdown. The economy is in a death spiral. It is hard to imagine how Greece can avoid a haircut for depositors.

Experiencing and Explaining the Greek Crisis With Children

Zanthe Taylor | Posted 10.08.2015 | Parents
Zanthe Taylor

What, if any of this, could our children understand? What have they taken away from their eyewitness view of the world's economic turmoil?

Standing with Attica for the Future of Greece

Rena Dourou | Posted 10.06.2015 | World
Rena Dourou

The case of Greece is worth standing for: due to its geopolitical burden in troubled times but also due to the fact that Greece belongs to the same community of countries sharing the values of democracy, liberty, social justice.

The Greece Polls Were Wrong Again

David C. Wittig | Posted 09.21.2015 | World
David C. Wittig

Syriza remains almost as popular, despite a confusing message. Is Syriza in favor of the agreement with the EU? They say, "Yes," but they recommended a "No" vote in the referendum. They seem to be doing very little to comply with the EU agreement.

Greek Election Day Minus 4

David C. Wittig | Posted 09.17.2015 | World
David C. Wittig

Athens is eerily quiet. The restaurants are half-full. If it were not for a few lingering tourists, the restaurants would be empty. Even the Nike store in Kolonaki closed in the last two weeks (in the interest of full disclosure the store was not owed by Nike, it was operated by Folli Follie).

A Late-August Dispatch From Athens

David C. Wittig | Posted 08.20.2015 | World
David C. Wittig

Perhaps the worst news for the Greeks is that the Germans have gone "radio silent." When the Germans were beating up the Greeks daily in the press, the Greeks were getting sympathy ... no more. Greece is on its own.

What The Greek Government Isn't Saying About The New Bailout Deal

The Huffington Post | Daniel Marans | Posted 08.12.2015 | World

The bailout deal Greece finalized with creditors on Tuesday, worth up to $94 billion, won't bring significant relief from austerity, contra...

Greece, Lenders Clinch Multi-Billion Euro Bailout Deal

Reuters | Jade Walker | Posted 08.11.2015 | World

ATHENS, Aug 11 (Reuters) - Greece and its international lenders reached a multi-billion euro bailout agreement on Tuesday after talking through the n...

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.

Greek Bailout Talks Delayed

AP | Charlotte Alfred | Posted 07.24.2015 | World

ATHENS, Greece (AP) — Greece on Friday invited the International Monetary Fund to participate in its negotiations with European creditors over ...

Provoking the Past in the Greek Referendum

American Anthropological Association | Posted 07.23.2015 | World
American Anthropological Association

In ATM queues up and down the country it became particularly striking how people discussed their fears and aspirations for the future through extensive reference to poignant pasts.

The Financial Crisis in Greece: A Spiritual Crisis in Disguise and an Urgent Call for Change

Maria Benardis | Posted 07.22.2015 | Business
Maria Benardis

Despite the financial crisis in Greece, there are many aspects of Greece that are not in crisis such as the beauty of its environment, food, history, culture and the hospitality of its people.

Greek High-Tech Made Its International Case Amidst Turmoil

Demetrios Pogkas | Posted 07.20.2015 | World
Demetrios Pogkas

The Greek start-up ecosystem really boomed over the last three years with big funding rounds and exits for companies mostly in ICT, but it still lacks the experience and networks for helping create truly international companies.

After 3 Week Closure, Greek Banks Finally Reopen With Some Restrictions

AP | Jade Walker | Posted 07.20.2015 | World

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Europe Moves To Restore Funding To Greece After Bailout Vote

Reuters | Charlotte Alfred | Posted 07.16.2015 | World

ATHENS, July 16 (Reuters) - Europe moved to re-open funding to Greece's stricken economy on Thursday after the parliament in Athens approved...

Greece PM Must Shred His Own Election Promises And Sell Austerity

AP | Jade Walker | Posted 07.14.2015 | World

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Why Debt Relief Won't Solve Greece's Problems

Edmund S. Phelps | Posted 07.13.2015 | World
Edmund S. Phelps

Greece will not get very far out of its present morass without coming to grips with how it got there. The country provides a textbook example of a flawed economic system.

Sunday Roundup

Arianna Huffington | Posted 07.11.2015 | Politics
Arianna Huffington

This week the world watched as Greece continued its fight for economic survival. Armed with the Greek people's resounding "no" vote on yet another round of economy-killing austerity measures, Prime Minister Tsipras went back to the negotiating table with EU negotiators. But the rescue package he presented to the Greek Parliament on Friday was a mixed bag: while it includes fresh loans, it also comes with the kind of destructive elements -- like regressive taxes and pension cuts -- that already tanked the Greek economy. As the 28 EU leaders meet today, it's clear that Greece isn't fighting mindless austerity just for Greece, but also for the rest of Europe. The Greek public's bold stance has galvanized anti-austerity groups across Europe. It's like a proxy fight in a new cold war -- but this one isn't East vs. West, it's the failed past vs. a sustainable future.

There Is No Quick Fix for Greece

Greta Van Susteren | Posted 07.11.2015 | World
Greta Van Susteren

Let's face it, no private investor in his right mind -- even one loaded with money -- would lend any to Greece. Not only is Greece in economic and financial shambles, but also Greece just proved it by defaulting on loans.

Creditors Welcome Greek Reform Proposal, But Leftists Wary Of More Austerity

AP | Posted 07.10.2015 | World

ATHENS, Greece (AP) — Greece's prime minister acknowledged Friday the reforms his government has proposed in return for a third bailout are harsh an...

Greece Submits Reform Proposals To European Creditors

AP | Posted 07.10.2015 | World

ATHENS, Greece (AP) — Greece finally met a deadline that counted on Thursday, delivering a series of sweeping proposals to its creditors before midn...

What It's Like To Be A Tourist In Crisis-Stricken Greece

HuffPost Spain | Carlota Ramirez | Posted 07.09.2015 | World

ATHENS -- Some people still feel inspired walking through the Acropolis’ monumental entrance, the Propylaea. No wonder. The temples of the "hol...