Greek Government Preparing Plans to Cross Red Lines to Avert Default
Greek government officials are preparing plans that would cross Syriza’s famed red lines in order to avert a default. Will Tsipras capitulate?
Read more...Category Archives: Europe
The Russian Pipeline Waltz
An analysis of possible Russian pipelines in Europe as strategic bargaining chips.
Read more...At Emergency Summit, Creditors Plan to Make Greece an Offer It Can’t Refuse
A Eurogroup meeting ended if anything with Greece and its creditors even more alienated from each other.
Read more...What If There is No Deal on Greece?
The alarming part of the deadlock between Greece and its lenders is the lack of a plan on the creditor side to develop a Plan B, a sort of mirror image of the Greek government’s claim that its has bet everything on securing a favorable agreement.
Read more...Bank of Greece Issues Grexit Warning, in Move Certain to Intensify Bank Run
The Bank of Greece submitted a required report on monetary policy to the Greek Parliament and the Cabinet this morning. The English language version of the press release shows that it says, in stark terms, that failure to reach a pact with Greece’s creditors will lead to a Grexit and likely a departure from the European Union.
Read more...The Operational Issues of a Grexit Part Two: Organizational Capacity, Capital Controls and Bootstrapping a New Monetary System
Economics, law and politics are all crucial to the story of Greece, but in the moment of default or Grexit they take a back seat to something far more important: organizational capacity.
Read more...Greek Talks Collapse, Default Looms
Both sides in the Greece/creditor negotiations have said they have reached the limits of what they are prepared to give.
Read more...Bill Black: Roger Cohen Laments his Inadequate Schadenfreude Because the Greeks Don’t Suffer Enough
Bill Black shreds a remarkably rancid anti-Greek screed.
Read more...Michael Hudson: Global Financialization – The State of Play in Ukraine and Russia
Michael Hudson gives a wide-ranging interview on the state of financial capital, with emphasis on fresh events in Ukraine and Russia.
Read more...Greece: The Negotiation That Never Happened…
Syriza thought that the economy (and the world) would stand still and wait for them to convince everybody else about the righteousness of their views – without ever getting into negotiating on the details. Rightly or wrongly, this didn’t happen.
Read more...Nathan Tankus: The Operational Issues of a Grexit Part One: Understanding the Payments System
The Greek ruling coalition and European politicians and bureaucrats say they want to avoid a Grexit, Nevertheless, it makes sense to examine that scenario. We start with the payment system and Target2 balances.
Read more...Creditors Reject Latest Greek Proposal, Tsipras Meeting with Merkel and Hollande in Doubt as Default Risk Rises
Greece’s creditors are not pleased, and perhaps more important, the Greek government has lost one of its few remaining advocates, Jean-Claude Juncker of the European Commission. The Eurocrats are finally waking up to the degree to which the two sides have talking past each other. The implication is that it is far less likely than they had believed.
Read more...Varoufakis’ Keynote on the Future of Greece Last Night in Berlin
Varoufakis was part of a panel discussion on the future of Greece within the EU last night, organised by the IMK.
Read more...Mathew D. Rose: Why the US Will Have to Clean FIFA’s Augean Stall
Having the US do the cleanup on FIFA exposes how lax prosecutors were elsewhere, above all in Germany and Switzerland.
Read more...Creditors Offered Bailout Extension Till March 2016 if Greece Agreed to Pension and Labor Reforms
As we’ve said, Greece’s creditors are continuing to demand that Greece give in on the two key sticking points in negotiations, that of pension and labor market “reform”
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