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Bringing the Troika to Paris

Mark Weisbrot | Posted 06.14.2016 | Home
Mark Weisbrot

In recent weeks France has faced strikes and protests as the battle has come to their terrain, over a new, sweeping labor law. Among other provisions, the law would weaken workers' protections regarding overtime pay, the length of the work week, and job security.

#ThisIsACoup: Understanding Greece's Year In Crisis

HuffPost Greece | Eline Gordts | Posted 01.10.2017 | Home

ATHENS, Greece -- According to filmmakers Paul Mason and Theopi Skarlatos, Jan. 25 marked the start of a financial war. That day, Greeks handed a mass...

Greece's Cruel October: New Government To Race To Implement Austerity Reforms

HuffPost Greece | Eline Gordts | Posted 01.11.2017 | Home

ATHENS, Greece ― The financial team of the new Greek government will have to race against the clock this month to prepare a timetable for implementi...

Greece And Creditors Clinch Bailout Deal After Marathon Talks

Reuters | Nick Robins-Early | Posted 01.03.2017 | Home

ATHENS, Aug 11 (Reuters) - Greece and its international lenders reached an 85 billion euro bailout agreement on Tuesday after nailing down the terms o...

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

Jakob von Uexkull | Posted 08.03.2016 | Home
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 Stocks Plummet After Five-Week Shutdown

Reuters | Nick Robins-Early | Posted 01.03.2017 | Home

ATHENS, Aug 3 (Reuters) - Greece's stock market closed with heavy losses on Monday after a five-week shutdown brought on by fears the country was abou...

The Privatization Plan for Greece Should Be a Stigma on Europe's Conscience

Yanis Varoufakis | Posted 07.21.2016 | Home
Yanis Varoufakis

ATHENS -- The plan is politically toxic because the fund, though domiciled in Greece, will effectively be managed by the troika. It did not have to be this way. At a turning point in European history, our innovative alternative was thrown into the dustbin.

Greece's Debt, a New Monetary System, and the Climate Negotiations in Paris

Mike Sandler | Posted 07.10.2016 | Home
Mike Sandler

The amount of debt forgiveness that Greece is able to obtain may be an indicator for how negotiations will go for the world's ecological debts in Paris.

Economists React To Greece's New Debt Deal

The Huffington Post | Nick Robins-Early | Posted 07.13.2015 | Home

After months of contentious talks and a weekend filled with hostile all-night negotiations, Greece's quest to secure a debt bailout deal looks to fina...

Greek Voters Present Obstacle to Unelected Authorities' Efforts to Transform Europe

Mark Weisbrot | Posted 07.09.2016 | Politics
Mark Weisbrot

By voting "No" with a large margin (61-39 percent), Greek voters demonstrated several important things. First, that they were not easily intimidated. Second, that despite a massive propaganda campaign by what the New York Times described as "the oligarch-dominated news organizations," they were not easily fooled.

Zach Carter

Why Obama Is Leaving Greece To Fend For Itself Against Germany | 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...

When to Hold and When to Fold: Today's Gamble for Greece

Peter Alexander Meyers | Posted 07.08.2016 | Politics
Peter Alexander Meyers

What do they really want? That's the question everyone is asking about both the Germans and the Greeks. Aspirations explicit and veiled circulate. But recent events -- negotiations, stalemate, trash talk, referendum, shutdowns -- have moved many options off the table. A thunderous "no" vote in Greece drowned out the more pointed "no" from Germany. Both these negatives were expressions not of will but of weakness. Yes, that's correct, German weakness, too. Is this something Alexis Tsipras can exploit? On such a field of increasing obstacle and impediment is where the next battle will play out. Politics is like this.

Greece Has Reached Its Threshold of Pain

Daniel Wagner | Posted 07.06.2016 | Home
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...

What Will Save the Euro?

Harlan Green | Posted 07.06.2016 | Business
Harlan Green

Now that Greece has voted "no" on the latest proposal by the European Commission, the European Central Bank, and the International Monetary Fund (the so-called "troika"), will Greece stay in the eurozone? If so, Greece may save the euro.

Weekend Roundup

Arianna Huffington | Posted 07.03.2016 | Politics
Arianna Huffington

This week, while the U.S. celebrates its independence, the world watches a modern Greek tragedy unfold as Greece votes on austere bailout terms imposed by the country's creditors. However the vote goes, one thing is clear: The austerity that came with the two previous bailouts has utterly broken the Greek economy. GDP has gone down nearly 30 percent. A quarter of the country is unemployed, including half of its young people. Pensions have been slashed. The health budget has been cut by 40 percent. Suicides are up 36 percent since 2008. The Troika has authored a new Greek myth -- that you can cut your way to growth. And now they're back, demanding more of what's already shattered the economy. The question is will they shatter the spirit of the Greek people? Just as we value our independence, so do the Greeks, who, after all, invented democracy. No matter the outcome of the vote, feeling some measure of control will help keep Greece's spirit alive.

A Contentious And Eventful Year For Greek Prime Minister Alexis Tsipras

The Huffington Post | Nick Robins-Early | Posted 07.01.2015 | Home

In January, Alexis Tsipras and his Syriza party rode a current of anti-austerity sentiment to a resounding victory in Greece's national elections. Tsi...

Greece: Dead End or Fresh Start?

Robert Zevin | Posted 06.29.2016 | Business
Robert Zevin

For five years Greece has been subjected to a regime of totally inappropriate austerity. As a result, for five years its poverty and misery have increased along with its impossibly large debt burden.

Victims of Illusions: The Non-Solution of the Greferendum

Prof. Cas Mudde | Posted 06.27.2016 | Home
Prof. Cas Mudde

The Greek government has squandered all its goodwill within half a year through a combination of arrogance, belligerence, naivety and utter incompetence. It set out to restore the "dignity" of the Greek people by "liberating" them from the alleged stranglehold of the Troika, while in the process "transforming" Europe into a more equal and just continent. It has achieved neither.

Eurozone Crisis: Greece's Syriza Proves Unfit To Govern

Marco Vicenzino | Posted 06.25.2016 | Home
Marco Vicenzino

For the past five months, the Tsipras government has presided over economic contraction, commercial paralysis, political polarization at home, diplomatic deadlock abroad and billions in withdrawals from Greek banks.

Christoph Asche

This Young Woman's Story Could Change Your View Of Greece | Christoph Asche | Posted 06.19.2015 | Home

Today is my fourth day in Greece. Since I came here last Saturday, I have heard a lot about the dramatic situation young Greeks find themselves in. On...

Greece, Creditors Dig In As Deadline Nears

Reuters | Posted 06.15.2016 | Home

ATHENS/BERLIN, June 15 (Reuters) - Greece and its creditors hardened their stances on Monday after the collapse of talks aimed at preventing a defau...

European Leaders Keep Greece Waiting As Deadline Nears

Posted 06.10.2015 | Home

By Jan Strupczewski and Renee Maltezou BRUSSELS, June 10 (Reuters) - The leaders of Germany, France and the European Commission told Greece on Wedn...

Will a Grexit Be the Lehman-Like Trigger of the Next Global Financial Crisis?

Joseph E. Stiglitz | Posted 06.08.2016 | Home
Joseph E. Stiglitz

NEW YORK -- Some in Europe, especially in Germany, seem nonchalant about a Greek exit from the eurozone. The market has, they claim, already "priced in" such a rupture. Some even suggest that it would be good for the monetary union. I believe that such views significantly underestimate both the current and future risks involved. A similar degree of complacency was evident in the United States before the collapse of Lehman Brothers in September 2008.

Greece Rejects Creditors' 'Absurd' Proposal

Posted 06.05.2015 | Home

By Karolina Tagaris and Angeliki Koutantou ATHENS, June 5 (Reuters) - Greek Prime Minister Alexis Tsipras on Friday spurned "absurd" terms of propo...

Greece Reform It or Ruin It?

Nancy K. Humphreys | Posted 06.05.2016 | Home
Nancy K. Humphreys

In 2012, the former Greek government, in compliance with troika demands for debt restructuring, pursued austerity economic policies that plunged the country into debt, causing pension funds to lose $27 billion in reserves.