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Defiant Message From Greece
Keywords:
Greek leader Alexis Tsipras of the Syriza party, the Coalition of the Radical Left, talks to Angelos and Granitsas of the Journal. He says it is in the interests of the European Union to continue funding to Greece, but if the EU stops the funding Greece will stop paying its debt. It will then use the funds going to the debt burden for paying retirees and workers. And it will also tear up the loan agreements signed earlier, and scrap plans for layoff of 150,000 workers in the government services by 2015. He would also reverse measures to lower private sector wages. He also looks favorably on nationalizing banks to better channel lending to where its needed. In his view it will be difficult for Greece either way. Even with funding Greece's GDP is expected to fall 5-7% in 2012, following several years of declining GDP.
Alexis Tsipras, of the Coalition of the Radical Left, or Syriza party in Greece in 2012 elections and EU elections of 2014
05/13/2012
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Germany would lose $127 billion or 3% of GDP, and France about $50 billion or 3% of its GDP if Greece exited the eurozone. The concern about orderly acceptance of the exit without affecting Spain and Italy in financial markets remains.
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Weber Sees Greece Needing More Aid
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A Greek Exit? Euro Zone May Be Ready
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Wall Street Journal 05/18/2012
Cost of Losing Athens Can't Be Calculated
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Preparation for Greece's exit from the euro currency and return to the drachma- November 2011-2012
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‘Grexit’ Could Happen by Accident
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New York Times 07/05/2015
New York Times 07/05/2015
Wall Street Journal 11/04/2011
Plan to Leave Euro for Drachma Gains Support in Greece
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Europeâs Two Years of Denials Trapped Greece
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Faces of recession battered Greece as new austerity programs are adopted by the government
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EU Dismisses IMF's Criticism On Greek Bailout
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New York Times 11/03/2013
Greece’s prescription for a health-care crisis - The Washington Post
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Across Athens, Graffiti Worth a Thousand Words of Malaise
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Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
Greece's austerity measures and why the cuts hit lower paid workers the most
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Greece’s prescription for a health-care crisis - The Washington Post
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EU Dismisses IMF's Criticism On Greek Bailout
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Greece needs to lower prices by 31% just to get to the level of Turkey, says the head of the Ifo research institute in Germany, Wener Sinn. Experts fear a breakdown in civil order inside Greece if deflation at this level occurs with Greece still using the euro. Hollande, the Socialist party candidate in France, also expressed similiar concerns, as reported in the New York Times, calling it a breakup in European governance that followed the breakdown in Greek governance. Sinn says the bondholders are overly exaggerating the risks of a breakup in the eurozone if Greece exits the euro.
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Italian prime minister, Mario Monti, on why the European Union will endure regardless of the outcome in Greece
02/10/2012
Mario Monti tells the editors of the New York Times in an interview, that the EU will endure because it was in the interests of Germany. Competitive devaluations if countries left the EU would have an enormous harmful impact on Germany. Germany send two thirds of its exports to EU countries. Monti says even if Greece were to exit the euro the EU will endure. The vision of a united Europe continues to shape its politics.
Grouped Articles
Italy's Monti Hopes Summit Win Plays at Home
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Italian Prime Ministerâs Political Acrobatics
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Italian Left Bolstered by Showing in Mayoral Races
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‘The European Union needs Italy’ - The Washington Post
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New York Times 05/22/2014
Italyâs Leader Is Optimistic About Greece and Euro
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The IMF's March 2012 Report on Greece predicting "a disorderly exit from the euro" in the absence of further support
05/27/2010
The IMF says Greece is still "accident-prone" after the dept swap with private bondholders in March 2012. Its competitiveness problem may take a decade to resolve.
Grouped Articles
A Warning Light to Alert the I.M.F.
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EU Dismisses IMF's Criticism On Greek Bailout
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New York Times 06/07/2013
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Past Rifts Over Greece Cloud Talks on Rescue
Wall Street Journal 10/07/2013
Watch Athens, Not Paris, This Weekend
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Greece, debt and the new austerity budgets 2011-2013
12/10/2009
Grouped Articles
Greek Draft Budget Sees Primary Surplus, Return to Growth
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Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
Greece: Austerity Budget Passed
New York Times 12/25/2009
Greece's austerity measures, politics and the 2012 elections
07/26/2011
The prospects of combined vote of 30-35% for the two major political parties of Samaras and Venizelos with the rest of the vote splintered among extreme right and left wing parties, in the the 2012 Greece elections.
Grouped Articles
Frenemies: Two Greek Rivals Hold Nation's Fate in Balance
Wall Street Journal 07/26/2011
New York Times 06/23/2013
Fractious Greek Government Splits
Wall Street Journal 06/25/2013
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Greece's Fringe Parties Surge Amid Bailout Ire
Wall Street Journal 03/28/2012
In Greece, austerity kindles deep discontent - The Washington Post
Washington Post 03/31/2012
Why the March 2012 Greece bailout protects the EU, but is bad for Greece and for democracy
06/30/2011
Nothing to be proud of, says the Journal in its editorial on Feb. 29, 2012. For Greece the terms leave no hope for a return to growth, and that the two political parties in Greece were required to pledge their support for austerity measures against overwhelming public opposition in Athens says little for democracy. It would have been better for Greece to go into a planned default 2 years ago with steeper haircuts for European banks and reducing Greece's debt to a manageable level lower than the over 120% of GDP in 2020 of the March 2012 bailout plan, says the Journal.
Grouped Articles
EU Dismisses IMF's Criticism On Greek Bailout
Wall Street Journal 06/07/2013
Policy âTroikaâ for Europe Financial Woes at Odds
New York Times 06/07/2013
New York Times 11/03/2013
Wall Street Journal 03/12/2012
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
John Cochrane and other experts give a no-nonsense view of the bailouts and the financial crises facing Europe
12/02/2010
Insights that the real problem is short term debt financing. The need for the EU to insist on long tem debt financing for governments in Europe. The solution for this crisis is not in bailouts of Greece, Spain, Italy and so on, but to swap the short term debt for debt with longer term maturities, and for bondholders to take a haircut. Similiar to the Brady Plan for Latin America in the late 1980's. The bailout of Ireland in reality not a bailout of Ireland, as a bailout of German and British banks that made risky loans to Irish banks and the Irish government. The U.S. government's debt also tilted to short term debt and problems similar to European problems.
Grouped Articles
EU Dismisses IMF's Criticism On Greek Bailout
Wall Street Journal 06/07/2013
'Contagion' and Other Euro Myths
Wall Street Journal 12/02/2010
As Ireland Flails, Europe Lurches Across the Rubicon
Wall Street Journal 12/27/2010
Running the euro zone: Pact of uncompetitiveness
Economist 02/12/2011
Wall Street Journal 03/11/2011
Europe Needs to Apportion Pain
Wall Street Journal 03/17/2011
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