Mitchell, B. (2015) “Don’t mention the war! er the Troika…“, Bill Mitchell Blog, 26 February. “Don’t mention the war”! was a classic line from the episode – The Germans – in the comedy Fawlty Towers. Basil Fawlty implored his meagre staff to stay silent in case they offended some German tourists staying at his hotel. His attempt at self-censorship failed and led to hilarious consequences. I was reminded of …Read More
Four misperceptions about Greece
Sandbu, Μ. (2015) Four misperceptions about Greece, Financial Times, 23 February. At best, it’s the end of the beginning On Friday, Free Lunch called the eurogroup meeting on Greece “the next of many high noons”, and so it will prove this week. Much like previous “breakdowns in talks” were nothing of the sort, Friday’s “agreement” was not one either. The FT‘s Peter Spiegel gives a quick summary of what …Read More
Was it worth it? Concessions to Greece relative to the rejected draft of 16 February
Norbert Häring: Was it worth it? Concessions to Greece relative to the rejected draft of 16 February, Norbert Häring – Geld und Mehr Blog, 21 February 2015. On 16 February talks in the Eurogroup failed after Greece rejected a draft statement and received an ultimatum to ask for an extension of the current program before 20 February. Greece sent the letter and the Eurogroup reassembled on 20 February, agreeing on …Read More
Library » Greece » Politics » Policy Papers
Greece’s Reprieve: In Praise of Kicking the Can Down the Road
Mauro, Ρ. (2015) “Greece’s Reprieve: In Praise of Kicking the Can Down the Road“, Peterson Institute, RealTime Economic Issues Watch, 24 February. The melodrama in Greece has produced demands that Athens and its European partners take decisive action to fix a complicated situation once and for all. In fact, kicking the can down the road—as the players did recently to avert a financial crisis—is an underrated and long-standing feature …Read More
Library » EU » Greece » Politics » Opinion Articles
Greece: Austerity for the Bankers
Michael Hudson says Greece’s Finance Minister Varoufakis is proposing austerity on the banking class rather than on the working class to balance the budget. SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. The four-month extension secured by the Greek finance minister, Yanis Varoufakis, on Friday came with the condition that Greece provide a list of measures to quell …Read More
Library » Greece » Economy » Politics » Opinion Articles
Mapping the Greek party system after the 2015 elections: how the economy and Europe have merged into a single issue
Katsanidou, A. & Otjes, S. (2015) “Mapping the Greek party system after the 2015 elections: how the economy and Europe have merged into a single issue“, LSE EUROPP, 25 February. The Greek government is still attempting to negotiate a long-term solution to the country’s debt problem, but what are the lasting implications of the 2015 Greek parliamentary elections for politics in Greece? Alexia Katsanidou and Simon Otjes present a …Read More
Greece and primary surpluses
Wren-Lewis, S. (2015) “Greece and primary surpluses“, Mainly Macro Blog, 24 February. In my simple guide to the current macroeconomic position of Greece, I said that a major mistake made by the Troika was to insist on a pace of fiscal adjustment that was far too fast. It led to a collapse in the economy. Of course a collapse in the economy itself raises the deficit. So people who …Read More
Reading The Greek Deal Correctly
Galbraith, J. (2015) “Reading The Greek Deal Correctly“, Social Europe Journal, 23 February. On Friday as news of the Brussels deal came through, Germany claimed victory and it is no surprise that most of the working press bought the claim. They have high authorities to quote and to rely on. Thus from London The Independent reported: several analysts agreed that the results of the talks amounted to a humiliating …Read More
What Germany Owes Greece
Crook, C. (2015) “What Germany Owes Greece“, BloombergView, 19 February. How much does it matter, if at all, that Greece’s demand for a new bailout program with softer terms is being pressed by a new government, elected for that very purpose — a government that retains solid support even as its standoff with other European Union governments drags on? How much does democracy matter in a situation like this? …Read More
Library » EU » Greece » Politics » Opinion Articles
Who’s Extorting Whom? It’s All About Coercion
Weisbrot, M. (2015) “Who’s Extorting Whom? It’s All About Coercion“, The Huffington Post, 17 February. The Economist‘s Feb. 6 cover displayed the Venus de Milo statue pointing a revolver, with the headline “Go ahead, Angela, make my day.” In the editors’ upside-down world, Greece is threatening Europe, or at least Germany. Really? On Monday, Feb. 16, European officials “handed Athens an ultimatum: Agree by Friday to continue with a …Read More
Library » EU » Greece » Politics » Opinion Articles