Articles on Greece
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The lingering commitment to austerity of leading Western politicians in the face of impending economic tragedy is beyond belief. The dismal science is a sobriquet often wrongly applied to economics, but…
This week marked the first anniversary of the 15-M movement, a precursor of Occupy movements worldwide. 15-M again mobilised its supporters for a 4-day long program of street protests culminating in a…
“I don’t envisage, not even for one second, Greece leaving the euro area. This is nonsense; this is propaganda.” That’s Jean-Claude Juncker, Prime Minister of Luxembourg, chairman of the Eurogroup, speaking…
Ten days ago, the political landscape in Europe changed profoundly. Greece voted in the main to elect parties from the far right and far left who are opposed to austerity, and France elected a socialist…
The democratic executions of Nicolas Sarkozy in France and Lucas Papademos in Greece means the body count of European leaders guillotined by angry electorates has risen to 12. Sarkozy and Papademos join…
The answer, even though they see over and over again that austerity leads to collapse of the economy, the answer over and over [from politicians] is more austerity. – Joseph Stiglitz, Asian Financial Forum…
Poverty is definitely not some bucolic ideal that we should romanticise. It is ugly, brutal and should be fought against. But there are lessons from the poor that we, in affluent (and frequently complacent…
Welcome to the latest in our In Conversation series, between risk analyst and author Satyajit Das and Kevin Davis, Research Director of the Australian Centre for Financial Studies. Satyajit Das is an internationally-known…
Greece is rescued, for now…maybe. Perhaps it’s time to move on to the next basket case. So, which of the PIIGS is the next Greece? For the moment, Portugal looks to be the front-runner. The country’s public-debt-to-GDP…
As Greek politicians approved a tough austerity package amid fierce protests, one question dominates: is an orderly exit from the Eurozone available for Greece? And just what might be the consequences…
Europe this week has voted for tough new fiscal rules aimed at reining in high deficits, as world economic leaders continue to grapple with solving the sovereign debt crisis. But not all measures have…
Early this week, sovereign bonds spreads for France and other Euro-core countries peaked. Around noon on Tuesday the spreads on French and Austrian 10-year government bonds exceeded the German bund rate…
Is the Eurozone about to crash and burn, leaving Club Med in its wake? Not so fast. Reports have suggested that French President Nicolas Sarkozy and German Chancellor Angela Merkel have discussed a strategic…
Italian Prime Minister Silvio Berlusconi appears set to become the largest political casualty so far of the Eurozone’s continuing inability to resolve its massive sovereign debt problems. Berlusconi, who…
The Greek Prime Minister will resign in an effort to save the bailout deal agreed by the European Union to dig the country out of its debt crisis. George Papandreou agreed to go following talks with the…
Greece’s cabinet has given unanimous backing to Prime Minister George Papandreou’s plan for a referendum on the government’s austerity program. Papendreou emerged from talks with fellow EU leaders at the…
Greek Prime Minister George Papandreou has taken the bold step of planning a referendum on the country’s EU-imposed austerity measures, in a bid to claim a mandate for his efforts to avoid a default on…
It has been a tumultuous week in the life and times of democracy in the Mediterranean. Seven days punctuated by joyous hope and its ugly opposite, sullen despair. The promising news came from Tunisia…
The “Occupy” movement has swept the world in the last five weeks, as seems appropriate in this year of demonstrations by people tired of a clapped-out status quo. Of course, the Occupy movement is quite…
Another round of violent protests erupted in Greece last week, following the latest austerity cuts to public service jobs and pay. Meanwhile, the creeping consequences of austerity measures are beginning…



















