Category Archives: Europe

Greece’s Creditors Meet to Prepare Offer (Updated – Creditors Agree on Uncompromising Terms)

Greece’s creditors met to agree on a last-ditch offer. But it turns out “last ditch” reaffirmed their current position and removed IMF’s debt relief proposal.

Greece’s Shortening Negotiating Runway and Possibly Erroneous Assumptions

Le Monde published a defiant op ed by Alex Tsipras over the weekend. The wee problem is that Greece is well past the point where political appeals will work.

Why a Greek Default is Likely to Strengthen the Hand of Austerians

Many fear that a Greek default would lead voters elsewhere in Europe to favour default over austerity. In contrast, this column argues that it is more likely to have the opposite effect

Wolf Richter: When Betting on QE Suddenly Goes Wrong

Central banks think they’re omnipotent – until they aren’t.

Greece: An Endgame Finally in Sight?

The noose continues to tighten on Greece.

Michael Hudson: Ukraine’s “Operation Vulture” and Labor Protests

Hudson’s so-called “Operation Vulture,” the strip-mining of what little is left of a functioning economy in Ukraine, comes straight out of the neoliberal playbook.

A Parallel Currency for Greece: Part II

Yves here. I’m quite interested in reader reactions to this scheme. My big reservation is that the amount of the scrip devised by the authors, the TCC, has to be limited to the an amount of discount of future tax payments that is deemed to be credible. Given that Bill Mitchell has estimated that Greece […]

A Parallel Currency for Greece: Part I

A review of the pros and cons of various parallel currency options for Greece.

Ilargi: Mario Draghi’s Slippery Downward Slope

Mario Draghi is more and more visibly meddling in politics, yet another reminder that central bank “independence” is a fig leaf.

The Not-Brexit Negotiations as UK Referendum Looms

While virtually no one expects a Brexit, history suggests would be naive to expect the upcoming negotiations between the UK and EU to be a cakewalk.

Are The IMF and the EU at Loggerheads Over Greece?

An overview of the history of the economic dispute between the IMF and the Eurozone creditors over Greece, and what that means for the ongoing negotiations.