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Greece Financial Crisis

Greece Tipped Over ...

David C. Wittig | Posted 01.13.2017 | Home
David C. Wittig

Greece Tipped Over ... I spoke about "The Greek Tipping Point" in November 2015. At that point Greece was on the brink. As of today, Greece is over...

Returning to Sanity?

David C. Wittig | Posted 10.21.2016 | Home
David C. Wittig

Who would have thought that returning to Greece meant returning to sanity? But then again, who could have imagined two people more despised by the vo...

Greece Has a Deal ... of Sorts

David C. Wittig | Posted 06.02.2016 | Home
David C. Wittig

Greece finally passed its long awaited package of reforms, which follows the usual pattern. The Parliament was all too happy to raise taxes and social security contributions, but pension reform and the sale of NPLs is much less clear.

The Athens Tram

Thanos Catsambas | Posted 05.09.2016 | Home
Thanos Catsambas

The modern Athens tram was inaugurated in July 2004, a few weeks before the Athens Summer Olympics. It was a controversial project, because it took away parking spaces that were already sorely needed, split various neighborhoods in half, and did not improve the commuters' prospects in Athens and its suburbs.

There Is No Settlement -- Part ?

David C. Wittig | Posted 05.04.2016 | Home
David C. Wittig

There was no settlement between the EU and Greece before Greek Easter as promised. I wonder how many more times that headline will appear.

Nothing Has Happened

David C. Wittig | Posted 04.08.2016 | Home
David C. Wittig

No, you did not miss my last article; I have not written since January 24, 2016. And no, nothing has happened in Greece since then ... no pension reform, no sales of NPLs, nothing. And, nothing is likely to happen for the foreseeable future.

Songs of the Doomed

David C. Wittig | Posted 11.23.2016 | Home
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.

When History Elects a Government

Konstantina Karakosta | Posted 09.14.2016 | Home
Konstantina Karakosta

On April 23rd, 2010, Prime Minister George Papandreou issued an announcement: "It is absolutely necessary that we make a formal request to our partners to activate the support mechanism we and the other members of the EU have created together."

The End Of Magical Thinking

Pavlos Tsimas | Posted 08.15.2016 | Home
Pavlos Tsimas

Deliverance or calamity, recession-oriented or development-oriented, the "best possible agreement," or the "worst of them all," the new agreement between Athens and its creditors still has an uncertain fate and even more uncertain consequences.

The Latest From Athens

David C. Wittig | Posted 08.04.2016 | Home
David C. Wittig

It is impossible for Greek businesses to get credit outside of Greece. The amount of money that may leave the country to buy essential goods and services is severely limited. It will be no surprise when GDP shrinks in the third quarter and when unemployment spikes.

Provoking the Past in the Greek Referendum

American Anthropological Association | Posted 07.23.2016 | Home
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.

Greece's Debt Crisis Is Hurting Its Even Poorer Neighbors

Reuters | Benet Koleka | Posted 07.08.2015 | Home

KAPSHTICA, Albania, July 8 (Reuters) - Sun-beaten and sullen, the four Albanian fruit-pickers returning home from a three-week stint working in Greece...

A Careful Look at Greece's Options and Why Yes Is the Only One

Costas Meghir | Posted 07.03.2016 | Home
Costas Meghir

Understanding the consequences of leaving the Euro has to be analyzed in two separate parts: first the consequences during the transition to the drachma and second the long-term outlook for the Greek economy with its own currency. The transition is, of course, hugely important.

Greece Reportedly Ready To Accept Revised Deal

Reuters | Atul Prakash | Posted 07.01.2016 | Home

LONDON, July 1 (Reuters) - European shares extended gains on Wednesday after a report saying that Greece was ready to accept most conditions from it...

Between Default and Reform: The Night and Day Options for the Greek Economy

Costas Meghir | Posted 06.24.2016 | Home
Costas Meghir

The obvious alternative to the catastrophe that the government is contemplating is to implement real structural reforms. This would first require a deal with the creditors to keep Greece afloat.

Quiz: Who Can Save Greece From Collapse?

Triantafyllos Xylouris | Posted 06.15.2016 | Home
Triantafyllos Xylouris

Given the abundance of talent in Greece with not many other options to pursue, I truly believe that the startup-scene can generate star players. But we have to stay realistic.

Greece Battles To Avert Catastrophic Funding Crunch

Reuters | Posted 05.05.2015 | Home

By Lefteris Papadimas and Jan Strupczewski ATHENS/BRUSSELS, May 5 (Reuters) - Greece blew hot and cold with its euro zone partners on Tuesday as it...

Greek Prime Minister Presses For May Debt Deal

Reuters | Posted 04.28.2015 | Home

ATHENS, April 28 (Reuters) - Greek Prime Minister Alexis Tsipras said on Tuesday he was confident of an outline deal with international creditors with...

Time Out: Let's Stop the Blame Game in Europe

Yanis Varoufakis | Posted 05.30.2015 | Home
Yanis Varoufakis

ATHENS -- Five years after the first bailout was issued, Greece remains in crisis. Animosity among Europeans is at an all-time high, with Greeks and Germans, in particular, having descended to the point of moral grandstanding, mutual finger-pointing, and open antagonism. This toxic blame game benefits only Europe's enemies. It has to stop. Only then can Greece -- with the support of its European partners, who share an interest in its economic recovery -- focus on implementing effective reforms and growth-enhancing policies.

Greece To Run Out Of Cash By April 20 Without Fresh Aid

Reuters | Posted 03.24.2015 | Home

By George Georgiopoulos and Thorsten Severin ATHENS/BERLIN, March 24 (Reuters) - Greece risks running out of cash by April 20 unless it secures fre...

Krugman: Greece's Deal Is A Victory For Europe

The New York Times | Posted 02.27.2015 | Home

Last week, after much drama, the new Greek government reached a deal with its creditors. Earlier this week, the Greeks filled in some details on how t...

Greece Is on to Something

Martina Buchal | Posted 02.14.2015 | Impact
Martina Buchal

Whether it's the economy, unemployment, social or environmental issues, there is always something we are up against. What we choose to do in the face of that adversity, however, I believe, is what will define us as a generation.

'Give Greece A Chance'

The Huffington Post | Eline Gordts | Posted 11.21.2014 | Home

In a scathing editorial published on Friday, Bloomberg View accused the so-called "Troika" of raising absurd and counterproductive demands during talk...

Welcome To Huffington Post Greece

Sophia Papaioannou | Posted 01.19.2015 | Media
Sophia Papaioannou

This is a journey we hope will include the voices of all Greeks, from the farthest-flung islands in the Aegean and Ionian Seas to the major cities to the mountain villages.

It's Time to Give Back to the Greeks

Vasilis Georgiou | Posted 09.20.2014 | Impact
Vasilis Georgiou

I have two passions in my life: Helping entrepreneurs find the right franchise or business to buy, and trying to give something back to society throu...