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A Good Theory

David Backus | Posted 01.29.2013 | Business
David Backus

Let's step back for a minute and think about Europe when we strip away the clutter. An economic theorist might view Europe as an illustration of what economists call "risk-sharing": activities that spread or share risk across individuals so that everyone bears only a small amount.

Greece Is at the Crossroads With the IMF in Tow

Elena Panaritis | Posted 01.20.2013 | World
Elena Panaritis

While Greeks need to do more internally to help themselves, the IMF's modus operandi should also change and go back to its basics so that Greece does not become another loan addict, but an economic success story.

RECORD: 1 In 4 Greeks Unemployed

AP | NICHOLAS PAPHITIS | Posted 12.11.2012 | World

ATHENS, Greece — Unemployment in Greece hit a record high of 25.1 percent in July as the country's financial crisis continues to exact its heavy...

Austerity Has Failed in Europe, but What's Next?

Rajan Menon | Posted 11.30.2012 | World
Rajan Menon

To many Europeans, pronouncements that a monetary union without a fiscal counterpart could only have ended in a train wreck smack of an "I told you so" smugness. There's a bigger problem with this conceited view.

Cautions From Corfu

Debora L. Spar | Posted 11.05.2012 | College
Debora L. Spar

Europe must decide whether to accept the political bargain that was always there -- the loss of national sovereignty implicit in union -- or whether, more dangerously again, to try to go it alone.

U.S. Companies Brace For An Exit From The Euro By Greece

www.nytimes.com | Posted 09.03.2012 | Business

Even as Greece desperately tries to avoid defaulting on its debt, American companies are preparing for what was once unthinkable: that Greece could so...

Germans Almost Officially Over Greece

Reuters | Posted 11.02.2012 | Business

LONDON, Sept 3 (Reuters) - Only a quarter of Germans think Greece should stay in the euro zone or get more help from other countries, an opinion pol...

French President: 'There's No Time To Lose'

Reuters | Posted 10.25.2012 | Business

* Samaras says Greece determined to stay in euro * Hollande says Greece must show commitment to reform * German finmin r...

Greece Needs to Chart a Different Course

Mohamed A. El-Erian | Posted 08.24.2012 | World
Mohamed A. El-Erian

Greece's political leaders still don't seem to get it, and neither do its official creditors. The longer this problem persists, the greater the challenge of turning around a country already beset by recession, insolvency, distressingly high unemployment and rising poverty.

Greek Government: Yes, We Want The Eurozone

Reuters | Posted 08.21.2012 | Business

ATHENS, June 21 (Reuters) - The new Greek government plans to revise the terms of its bailout from the European Union and the International Monetary...

Conservatives Win Greek Vote

AP | NICHOLAS PAPHITIS | Posted 08.18.2012 | World

ATHENS, Greece -- Europe looked on with wary relief Monday as Greek conservative leader Antonis Samaras launched coalition talks after coming first in...

Greece Election Too Close To Call, Exit Polls Show

AP | ELENA BECATOROS and DEMETRIS NELLAS | Posted 08.17.2012 | World

ATHENS, Greece — The New Democracy party came in first in Greece's election Sunday and immediately proposed forming a pro-euro coalition governm...

Chaos, Hypocrisy and the Greek Elections

Michael Nevradakis | Posted 08.17.2012 | World
Michael Nevradakis

Greek voters are tired of the scaremongering, tired of being portrayed as the poster-child for the ills of Europe and tired of the broken promises made by the "major" parties.

Eurozone Breakup Would Be A Disaster Outside Europe

The Huffington Post | Alexander Eichler | Posted 06.16.2012 | Business

If the Eurozone breaks up, it's not going to be just Europe that suffers. The world's poorest countries stand to lose some $30 billion in trade and...

Who's Who? Greek Political Parties Explained

Posted 06.15.2012 | World

The first round of elections on May 6 and the subsequent failure to form a coalition government threw Greece into political turmoil. This Sunday, June...

Ex-Greek Prime Minister: Eurozone Exit Would Be 'Catastrophic'

Reuters | Steve Slater and Jamie McGeever | Posted 08.07.2012 | Business

COPENHAGEN, June 7 (Reuters) - A Greek exit from the euro zone would be "catastrophic" for the country, former prime minister Lucas Papademos said o...

Fortuna et Melancolia

Alexandre Montagu | Posted 08.04.2012 | World
Alexandre Montagu

The transformation of the state from nation state to market state provides in my view one of the most plausible explanations for the despair that accompanies increasing prosperity in our time.

Germany's Merkel Pushes Greece To Hold Vote On Staying In Eurozone

Reuters | Posted 07.18.2012 | Business

* Greece says Merkel, Papoulias discussed referendum * German spokesman denies Merkel proposed idea * Greek parties angr...

Europe Readies Greek Emergency Plan

Reuters | Posted 07.17.2012 | Business

BRUSSELS, May 18 (Reuters) - The European Commission and the European Central Bank are working on an emergency scenario in case Greece has to leave ...

Greece Nears 'Moment Of Truth' As Coalition Talks Fall Apart

Reuters | Posted 07.13.2012 | Business

* President to meet smaller parties from 1630 GMT * Talks with big parties hit impasse * Radical left seen gaining if ne...

What Would It Take For Greece To Ditch The Euro

AP | NICHOLAS PAPHITIS | Posted 03.04.2012 | Business

ATHENS, Greece — Greece's government warned Tuesday that the debt-crippled country will have to ditch the euro if it fails to finalize the detai...

Greece and the EuroZone: Angie, Ain't It Time to Say Goodbye?

Marshall Auerback | Posted 05.25.2011 | Politics
Marshall Auerback

Greece indeed is being offered a financial aid package of around 22 billion euro, but no funding will be made available until the country fails to find funding elsewhere, entirely obviating the point of the bailout.