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Greek Debt Crisis

Greece Makes IMF Payment But Another, Bigger One Looms

AP | ELENA BECATOROS and RAF CASERT | Posted 05.06.2015 | World

ATHENS, Greece (AP) — Cash-strapped Greece scraped together a 200 million-euro ($222 million) repayment to the International Monetary Fund on Wednes...

Athens: Great Food, Big Economic Questions, and Hair on Fire

Rick Steves | Posted 05.01.2015 | Travel
Rick Steves

Of course, Greece has its economic crisis. But that doesn't mean the 10 million people who live there aren't living life with creativity and gusto.

The Greek Default Will Be Soon... Drachma Here We Come

Richard Finger | Posted 04.27.2015 | World
Richard Finger

Greece will reintroduce the Drachma, which, I predict, will initially devalue at least 30 or 40 percent versus the Euro. Unfortunately, Greece imports are nearly twice their exports ($60 billion to $33 billion).

Greece Under Fire From Creditors As Bailout Talks Drag On

AP | PAN PYLAS | Posted 04.25.2015 | World

RIGA, Latvia (AP) — Greece's European creditors sought to douse talk that they are making plans for a potential Greek exit from the euro and express...

Are European Officials Pushing for Regime Change in Greece?

Mark Weisbrot | Posted 04.22.2015 | World
Mark Weisbrot

While the Greek government cannot do anything to replace its negotiating partners with people more to their liking, the European officials on the other side seem to believe they can do exactly that. And it is becoming increasingly clear that this is their current strategy.

Finance Officials: Threats To Global Economy On The Horizon

AP | MARTIN CRUTSINGER and HARRY DUNPHY | Posted 04.18.2015 | Business

WASHINGTON (AP) — World finance officials said Saturday they see a number of threats on the horizon for a global economy still clawing back from the...

Ryan Grim

Greek Finance Minister: Syriza Party Would Sweep If Elections Were Held Today | Ryan Grim | Posted 04.16.2015 | Politics

Greek Finance Minister Yanis Varoufakis is confident his leftist Syriza party would sweep if an election were held today. "We would walk these elec...

Are the European Authorities Destroying the Greek Economy in Order to 'Save' It?

Mark Weisbrot | Posted 04.09.2015 | Politics
Mark Weisbrot

There is a tense standoff right now between the Greek government and the European authorities -- sometimes known as the Troika because it includes the European Commission, the European Central Bank (ECB), and the International Monetary Fund (IMF).

Greek Debt: Do the Right Thing

Dimitri B. Papadimitriou | Posted 05.18.2015 | World
Dimitri B. Papadimitriou

In Greece, any meaningful change in debt terms needs to be part of a wider plan that deals with the underlying structural imbalances of the eurozone, just as a comprehensive plan was necessary for post-World War II European prosperity.

BILD, Journalism's Disgrace And The New Nazi Philosophy

Christos Terzides | Posted 05.08.2015 | Politics
Christos Terzides

When will the world's elite and Europe's leaders understand the paramount need for a social state? Until they do, the ignominious Bild will find fertile soil for its contemporary, lightly concealed Nazi speech.

Greece and the Myth of Sisyphus!

Justine Frangouli-Argyris | Posted 05.06.2015 | Politics
Justine Frangouli-Argyris

Since 2010, Greece has been living the tragic myth of Sisyphus, the king in Greek mythology who tried to outsmart the Gods and was punished for his trickery by being forced to eternally roll a huge stone up a hill, only to watch it roll back down every time he would approach the top.

Breaking: Greece Threatened 'Feta Dump' During Bailout Crisis

David Shayne | Posted 05.05.2015 | Comedy
David Shayne

Inside sources report Greek Finance Minister Yanis Varoufakis resorted to hostile threats last month as bailout negotiations with the country's creditors faltered.

Looking Back at Tsipras's Lost Opportunities and Forward to Greece's Future

Kyriakos Mitskotakis | Posted 04.30.2015 | World
Kyriakos Mitskotakis

Europe, now more than ever, needs a persuasive alternative to counter the German insistence on austerity. Instead, Tsipras decided to partake in some shadowboxing for the viewing pleasure of the Greek public.

The Buck Stops Here: Greece Is Fighting to Save Europe

Mark Weisbrot | Posted 04.29.2015 | Politics
Mark Weisbrot

Citizens of the eurozone countries didn't know when they formed the monetary union that they were not only losing their sovereign and democratic rights to control their most important macroeconomic policies. They had also ceded this power to people with an anti-social-Europe agenda. Now Greece is trying to get some of that democracy back.

A One-Room School and Reclaiming Economic Sovereignty

Peter Block | Posted 04.27.2015 | Impact
Peter Block

History is often a useful arbitrator of what's possible; for the many who imagine that debt forgiveness simply is not possible, it's worth remembering what happened sixty-one ago: In 1953 in London an agreement was reached to cancel half of Germany's post-WWII debt.

Eurozone Ministers Approve Greek Reform To Extend Bailout

AP | Posted 04.26.2015 | World

BRUSSELS (AP) — Greece's creditors in the 19-country eurozone on Tuesday approved a list of reforms Athens proposed to get a 4-month extension to it...

Socialism or Barbarism? Syriza, Economics, and Democracy

Jedediah Purdy | Posted 04.21.2015 | Politics
Jedediah Purdy

Restated for the 21st century, "socialism" simply means that a people's judgments about its own economic life come before the supposedly iron rules of the international economy. It would be fair to call it "economic democracy." The condescending view of the Greeks as somehow not understanding economic reason and the direction of history writes off this kind of economic democracy as infeasible, archaic, and probably senseless. Syriza's government has a chance to reverse the lens. Economic democracy (or, as Syriza calls it, socialism) is politics that puts human needs first and accepts that market-based destabilization, impoverishment, and humiliation are not natural disasters or comeuppance for bad behavior but forms of political violence.

Greece and Europe on the Edge

Evaggelos Vallianatos | Posted 04.21.2015 | Politics
Evaggelos Vallianatos

If Greece leaves Europe, the EU dream will be gone for good. Second, other European countries like Portugal, Spain and Ireland, also under the humiliations of debt, might imitate Greece and exit the EU. It's in the political interests of the U.S. to intervene decisively and prevent the break up of the Western world.

IOU 240 Euros, It's My Problem; IOU 240 Billion Euros, It's Your Problem!

Terry Connelly | Posted 04.19.2015 | Business
Terry Connelly

The first thing to know is that nobody should sell or buy a lot of US stocks or bonds because of the unfolding late-inning melodrama between the new g...

The Economic Ruination of Greece

Harlan Green | Posted 02.18.2015 | World
Harlan Green

Its unemployment rate is 25.8 percent, the worst in the eurozone (slightly more than Spain's 23.7 percent), as it has been in a deflationary spiral, further depressing its economic activity.

Greece: Europe's Identified Patient

Nancy K. Humphreys | Posted 04.19.2015 | Business
Nancy K. Humphreys

This lemon just can't be squeezed any harder--no matter how badly Germany and the rest of euro zone wants the money they perhaps shouldn't have "loaned" to Greece in the first place...

The Influence Game and the Hungry Dog: The Greek Case

Christos Terzides | Posted 04.19.2015 | Politics
Christos Terzides

Greece is the birthplace of democracy. Theater. Philosophy. It is the cradle of all Western civilization. Today is a country that has been pushed into a corner. Or rather, it is a starving dog waiting for someone to feed it. And a hungry dog will follow the hand that feeds it.

Can Greece Force a New Deal?

Robert Kuttner | Posted 04.17.2015 | Politics
Robert Kuttner

Greece and the European Union could face a showdown in their debt talks as early as this week. And if you had to place odds right now, the likelihood is that the stubbornness of Europe's senior leaders will create a catastrophe for both Greece and the EU. Here is the state of play.

Is Greece Europe's Core Problem?

Thanos Dimadis | Posted 04.14.2015 | World
Thanos Dimadis

While the European project is struggling to remain afloat through the destructive, vicious circle of austerity and dogmatic monetary policy choices th...

'Kolotoumba': The New Greek Word for Hope

Justine Frangouli-Argyris | Posted 03.30.2015 | World
Justine Frangouli-Argyris

The Greek word "kolotoumba," or somersault, indicative of a complete reversal in one's thinking or policies, has become the new catchphrase of the Greek political scene, repeatedly trumpeted in the local media as well as the foreign press.