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As Greece Deadline Looms, European Central Bank Plays Key Role
Keywords:
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
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
Pension system in Greece, retirees and Greece's negotiations with the EU in June 2015
06/08/2015
Grouped Articles
Pensions in Greece Feel the Pinch of Debt Negotiations
New York Times 06/08/2015
As Greece Deadline Looms, European Central Bank Plays Key Role
New York Times 06/21/2015
Greece and Its Creditors Pummel Each Other, but Fight Is Not Over Yet
New York Times 06/19/2015
Economist 06/20/2015
Greece Calls Referendum on Bailout Terms
Wall Street Journal 06/27/2015
The crazy reason we might be facing a huge crisis in Greece again - The Washington Post
Washington Post 04/20/2016
The retirement system in Greece
06/08/2015
Daley provides an indepth account of the problems facing the retirement system in Greece. The EU and Greece's creditors are calling for the elimination of the early retirement provisions in the system which let some people retire at 50 years, and cuts in pensions in addition to the 35-43% in cuts already made. This is a key stumbling block in the creditor negotiations with the Syriza government in June 2015. The pension system had problems before the crisis and is highly fragmented with 130 different pension funds. It took a hit of 10 billion euros early in the crisis, as the value of the Greek government bonds declined in value, wiping out about 60% of the reserves. Pensioners face difficult prospects with the poorly financed pension system supporting about 2.6 million pensioners. About 45% of pensioners live below the poverty line, according to Greece's government figures.
Grouped Articles
Pensions in Greece Feel the Pinch of Debt Negotiations
New York Times 06/08/2015
As Greece Deadline Looms, European Central Bank Plays Key Role
New York Times 06/21/2015
Alexis Tsipras, Greek Prime Minister, Sheds His Identity as a Radical
New York Times 07/21/2015
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