The IMF has dropped a big shoe before the Greek government has passed any of the legislation required as part of its pending bailout. But if this development leads to more wrangling, that means an even longer delay before Greek banks get any liquidity, which means continued strangulation of the Greek economy.
Read more...The IMF’s research head, Olivier Blanchard, attempted to defend the IMF’s sorry record in Greece. What if any of his argument makes sense?
Read more...How Greece, and in particular, Yanis Varoufakis, grossly misunderstood German interests and how that led Greece to destroy itself and further German rule.
Read more...This is as bad as we’ve feared.
Read more...Despite my generally dour outlook, I never thought we’d arrive at the insane juncture we are at now, that of a Grexit being all but baked in.
Read more...An analysis of the proposal approved by the Greek parliament yesterday by 251 votes out of 300.
Read more...Tsipras has managed to deliver to the neoliberals a victory more complete than they could ever have engineered on their own.
Read more...Greece has been given a maximum of five days to come up with a proposal acceptable to its lenders. And “acceptable” would be more stringent than if it had agreed to the memorandum when Syriza assumed office in January
Read more...Ambrose Evans-Pritchard has a bombshell report: Syriza never wanted to win the referendum and is now desperately contending with events that are spinning out of his control.
Read more...Greek journalist Michael Nevradakis and US investigative journalist Greg Palast have a different take on the Greek ‘No’ vote against Europe’s cruel austerity demands.
Read more...If the ECB does not give Greek banks more funds under the ELA today, the Greek economy is going to start to suffer lasting damage.
Read more...Obama and Treasury Secretary Jack Lew have been far more quiet than you’d expect given their attentiveness to the needs of the investing classes and the threat that protracted wrangling with Greece might pose to that. Of course, they might believe that Draghi’s bazooka is more effective than Hank Paulson’s proved to be in the runup to the final phase of the financial crisis. But John Helmer indicates below that the Greek referendum has intensified the Administration’s interest in regime change in Greece. Also note that the anti-Greek government interests have connections to Hillary Clinton.
Read more...Why the Greek government and Greek citizens recognize that a Grexit is a terrible idea for them.
Read more...Post-bailout expiration dynamics are likely to produce even worse outcomes for Greece than it had on offer from the creditors last month.
Read more...Elite decision-making before “the Guns of August,” with suggestive parallels to decision-making in the Greek Debt Crisis.
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