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Greek Deal or No Deal: Investors Question Which Is Worse for Euro
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Money managers, including AllianceBernstein's Daniel Loughney, say months of difficult negotiations and brinksmanship on Greece have affected the euro currency and may appear negatively in the euro's future in the coming years. The euro declined at one point in the negotiations to $1.05 in March before going back up to its current value of $1.12 in June 2015. This compares to the value of $1.40 in summer 2015. Compared to 2012 the markets in Southern Europe and the euro currency are largely protected from the situation in Greece, as little of the Greek government debt is held by banks and the private sector outside Greece. Some money managers (Franklin Templeton Inc. and SLJ Macro Partners) are even saying Greece's exit from the euro may be a good thing. Extraordinary liquidity is available from the ECB's bond buying program started in March 2015, protecting the eurozone banks and markets.
The euro currency and the negotiations with Greece with a possible Grexit in July 2015
06/26/2015
Grouped Articles
Greek Deal or No Deal: Investors Question Which Is Worse for Euro
Wall Street Journal 06/28/2015
Greek Prime Minister Calls for Referendum on Bailout Terms
New York Times 06/26/2015
Greece Will Shut Banks in Fallout From Debt Crisis
New York Times 06/28/2015
Cutting Greece Loose Might Be a Win-Win
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Germans Forget Postwar History Lesson on Debt Relief in Greece Crisis
New York Times 07/07/2015
Greece Given Until Sunday to Settle Debt Crisis or Face Disaster
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Austerity, Germany, and the economic crisis in Greece in 2015- the role of extreme levels of borrowing in the crisis
02/27/2015
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.
Grouped Articles
Don’t Blame Germany for Greece’s Profligacy
Wall Street Journal 04/17/2015
New York Times 02/27/2015
New York Times 04/20/2015
Greece Flashes Warning Signals About Its Debt
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Greece’s Long and Painful Odyssey
Wall Street Journal 04/22/2015
Greek Deal or No Deal: Investors Question Which Is Worse for Euro
Wall Street Journal 06/28/2015
Challenges Chancellor Merkel faces in Germany on immigration and Greece's position in the eurozone in 2015
12/31/2014
In the tenth year of the Merkel administration questions are raised about whether her position on immigration is out of touch with ordinary Germans. Her New Years Eve message included a reference to the Dresden marches on immigration saying that these people had "prejudice, coldness, and even hatred in their hearts." Immigration and paying the cost of integrating immigrants was one of the issues in 2014 Swedish elections, and is an issue today in the UK and France. The terrorist attack in France by radical Muslims has created new tensions in 2015.
Grouped Articles
Euro and Immigration Promise Challenges for Merkel in 2015
New York Times 12/31/2014
Big Anti-Immigration Rally in Germany Prompts Counterdemonstrations
New York Times 01/12/2015
Wall Street Journal 01/21/2015
Russia Links Loom Larger as Greece Seeks Debt Relief
Wall Street Journal 01/29/2015
German Anti-Immigrant Leaders Resign
New York Times 01/28/2015
Greek Financing Talks Break Down Amid Deep Divisions Over Bailout
Wall Street Journal 02/17/2015
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