Posts Tagged ‘Euro’

What’s driving Germany’s hardline stance on Greece?

by Tom Gill.

By Juan Torres López* and translated from the original Spanish by Tom Gill The media and the centres of economic and political power in Europe try to make us believe that the difficulties in reaching agreement with Greece come from the demands and bad practices in this country and that it is the position of […]

The money exists for investment in Greece

by Michael Burke.

The fraught negotiations between the new Greek government and representatives of the EU institutions are likely to be prolonged. They have centred to date on Syriza’s efforts to find room to alleviate some of the worst effects of austerity and address what is called the ‘humanitarian crisis’. This is entirely justifiable given the depth of […]

The costs and benefits of Grexit

by Tom Gill.

by Emiliano Brancaccio and Gennaro Zezza – translated from Italian by Tom Gill You cannot say that between 2010 and 2014, Greece has not “done their homework” assigned by the Troika. The tax burden has grown by five percentage points of GDP, public spending has fallen by a quarter and wages have fallen by twenty […]

Explaining the Euroland-Greece agreement

by Tom Gill.

by Jacques Sapir (translated from the French by Tom Gill) The agreement reached on Friday 20 February between Greece and the Eurogroup has led to conflicting commentary. It is necessary, in order to understand this agreement, and to analyze it, to put it into context, both in the short and in the long term. This agreement […]

Euroland’s Utopian foundations shaken by its central bank shirking its duties

by Ann Pettifor.

The late-night decision on 4 February by the European Central Bank to reject Greek bank collateral for monetary policy operations will, I confidently predict, precipitate not just a run on Greek banks; not just greater price instability across the Eurozone – but ultimately, the collapse of the fantastic machinery that is the ‘self-regulating’ economy of the Eurozone. […]

The German Chancellor and Grexit

by Tom Gill.

This article by Jacques Sapir originally published on his own blog is translated from the French by Tom Gill A Greek exit from the Euro, following the election on 25 January, is no longer unthinkable, Chancellor Angela Merkel admitted in the German weekly Der Spiegel on Saturday. This is an important statement, which can be analyzed in […]

So where now for Europe?

by Michael Meacher.

The irony for the EU, which even its leaders now recognise must change course radically, is that it can’t. At least it can’t in its present structure without such dislocating changes as to be scarcely credible. The central problem has been, and remains, the single currency. As long as countries, particularly on the southern periphery, […]

Europe’s debt – a con-trick binding the people to banks

by Tom Gill.

This article was translated by Tom Gill based on the original in Italian at  Il Fatto Quotidiano  by Loretta Napoleoni. From this year Italians have a 45 billion-euro–a-year bill to pay under the EU Fiscal Compact, a budgetary straightjacket binding Rome to 20 years of economically and socially lethal spending cuts and tax rises. It’s time to […]

Time to break up the Euro

by Oskar Lafontaine.

The European policy of Chancellor Angela Merkel is coming increasingly under pressure. Not only European Commission President Manuel Barroso, but also Enrico Letta, recently asked by Italian President Giorgio Napolitano to form the new governnnent, have criticized her austerity policies, which have been dominant in Europe and are leading to disaster. Europe’s leaders have long been at […]

French radicals to start referendum campaign on ‘Permanent Austerity Treaty’

by Tom Gill.

The radical Front de Gauche (Left Front) is to launch a campaign for a referendum in France against the Fiscal Compact, known by critics as the Permanent Austerity Treaty. Agreed on 2 March 2012 by 25 EU countries, minus Britain and the Czech Republic, the EU Fiscal Compact – a German invention officially known as Treaty […]

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