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Greece Flashes Warning Signals About Its Debt
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Without creditor agreement to release bailout funds Greece will not be able to make the $763 million payment to the IMF on May 12, 2015. Financial markets face uncertainty about the outcome of negotiations. In this report Landon Thomas Jr. describes meetings between debt lawyer Bucheit and the Greece finance minister Varoufakis, who are handling the negotiations with the EU and the IMF.
Krugman on Greece and the euro currency
06/17/2012
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Greece Flashes Warning Signals About Its Debt
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Cutting Greece Loose Might Be a Win-Win
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Austerity, Germany, and the economic crisis in Greece in 2015- the role of extreme levels of borrowing in the crisis
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Prof. Rogoff at Harvard and Prof. Bulow at Stanford point to the role of extreme levels of borrowing as the root cause of Greece's economic crisis. Greece would have suffered more if the EU and ECB had forgiven the debt but refused to lend since 2010, say Bulow and Rogoff. The popular rhetoric puts the blame on Germany for the austerity programs, yet this does not tell the entire story of profligate borrowing and spending till 2009, and the efforts of the EU and the ECB to find a way out of the crisis with conditional financing of the government and banks.
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Don’t Blame Germany for Greece’s Profligacy
Wall Street Journal 04/17/2015
New York Times 02/27/2015
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Greece Flashes Warning Signals About Its Debt
New York Times 04/19/2015
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Greek Deal or No Deal: Investors Question Which Is Worse for Euro
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The 4 month agreement between Greece's Syriza government and the EU in April 2015
02/24/2015
With the agreement the Greece government agrees to crack down on tax evasion and smuggling of oil and tobacco. It wins concessions for social programs for the poor and to help struggling homeowners with mortgages.
Grouped Articles
In Greek Crisis, Rare Moment of Consensus
New York Times 02/24/2015
Greece Flashes Warning Signals About Its Debt
New York Times 04/19/2015
Greece’s Long and Painful Odyssey
Wall Street Journal 04/22/2015
Pensions in Greece Feel the Pinch of Debt Negotiations
New York Times 06/08/2015
The changing mood in Athens, Greece, with the new government of Alexis Tsipras in 2015
01/28/2013
Less security around parliament, cafes and bars filled till midnight, public support for the Tsipras government climbs to 70%, a new sense of optimism pervades Athens after five years of austerity and protests. Ordinary Greeks feel the new government can take action to end the cronyism and corruption that led to the economic crisis.
Grouped Articles
Greeks Take Heart From Syriza Government’s Defiance Toward Europe
Wall Street Journal 02/09/2015
Greece Flashes Warning Signals About Its Debt
New York Times 04/19/2015
Greece’s Long and Painful Odyssey
Wall Street Journal 04/22/2015
The Heat Is on Greece’s Alexis Tsipras, From Inside and Out
New York Times 05/24/2015
Greece and Its Creditors Pummel Each Other, but Fight Is Not Over Yet
New York Times 06/19/2015
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Krugman on the debt negotiations between Greece and the EU in April 2015- how the Syriza government Greece wins flexibility for 2015-2016
02/24/2015
Krugman cuts through the fog of media commentary about the Greece negotiations with the EU in April 2015. He says in actual fact the situation is better for Greece than under the previous government, with Greece winning new flexibility for how much it must make in cuts. Under the Samaras government the primary surplus, which is the difference between revenue and expenditures not counting interest on debt, would have to triple from what it is likely to be now. Syriza Tsipras government has won flexibility by keeping language about increases in the future surplus obscure. Krugman points out that it is the primary surplus that matters most, because it is the money Greece has to transfer to creditors. On the revenue side Krugman says collecting taxes needs to be more efficient, and he cannot see how this should be any other way. In the eurozone as a whole the move is away from austerity and towards constructive reforms that promote economic growth. Italy and France also won new flexibility in talks with the EU in addressing the deficit for 2015-2016. As a result the story is positive for the eurozone, yet commentary in the media makes it look like there is the prospect of further decline in the region. As a sign of the recovery auto sales in the eurozone increased by about 9% year over year for the 1st quarter of 2015, with sales increases across the eurozone including Greece and Ireland, and large increases in Spain, Portugal.
Grouped Articles
New York Times 02/27/2015
In Greek Crisis, Rare Moment of Consensus
New York Times 02/24/2015
New York Times 04/20/2015
Greece Flashes Warning Signals About Its Debt
New York Times 04/19/2015
Greece’s Long and Painful Odyssey
Wall Street Journal 04/22/2015
Greece Says It Is Changing Team That Negotiates With Creditors
New York Times 04/27/2015
Difficult negotiations between the Syriza government in Greece and the E.U., ECB, IMF, in Feb.- June 2015
01/26/2015
Grouped Articles
New Leader in Greece Now Faces Creditors
New York Times 01/26/2015
Greece Moves Quickly to Roll Back Austerity
Wall Street Journal 01/28/2015
Russia Links Loom Larger as Greece Seeks Debt Relief
Wall Street Journal 01/29/2015
Greece Runs Into Doubt Over Europe Deal
Wall Street Journal 02/05/2015
IMF Says No Talks With Greece to Change Debt-Relief Framework
Wall Street Journal 02/05/2015
ECB Holds the Cards in Greek Standoff
Wall Street Journal 02/06/2015
Matthieu Pigasse of France's investment bank Lazard and the debt negotiations for Greece and Ukraine in 2015
02/05/2015
Grouped Articles
The Lazard Banker Shaping Greece’s and Ukraine’s Financial Fate
Wall Street Journal 02/05/2015
Greek Stocks and Bonds Sink After ECB Debt Decision
Wall Street Journal 02/06/2015
Greek Financing Talks Break Down Amid Deep Divisions Over Bailout
Wall Street Journal 02/17/2015
Eurozone Agrees on Four-Month Extension of Greece Bailout
Wall Street Journal 02/22/2015
A Deal That Preserves Greece’s Place in Eurozone, and Fiscal Restraints
New York Times 02/21/2015
Eurozone Officials Reach Accord With Greece to Extend Bailout
New York Times 02/20/2015
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