Ireland Renews Fears of European Debt Crisis
As different countries in the eurozone struggle, pressure on Ireland to accept a bailout is mounting.
Greece
Unions March Against Austerity in Europe
With conservatives in power in most of Europe, the left is rallying to protest spending cuts and pension reform.
Slovakia Refuses to Help Bail Out Greece
The country points out that Greece is richer than itself.
Greece Should Get To Work
The meltdown in Greece of last April exposed not just the economic weakness of this particular South European state; uncertainty about public finances was suddenly abound throughout the European Union. A multibillion euro rescue plan necessitated unprecedented efforts to guarantee the stability of the common currency. German chancellor Angela Merkel even warned that the very […]
Saving the Euro
Bending the rules of euro management, European leaders and finance ministers agreed to an unprecedented effort to guarantee the stability of the eurozone with loans adding up to nearly $1 trillion (or €750 billion) this weekend. In spite of the multibillion euro rescue package previously pledged to Greece, investors continued to worry about the unsound […]
Future EU at Stake: Merkel
Greece must cut its deficit to qualify for a European bailout.
Meltdown in Greece
The crises in Greece sends shockwaves around the world and inspires recriminations everywhere.
Liberal Wrongheadness on Greece
Simply printing money to pay off its creditors in a debased currency is no solution for Greece’s financial troubles.
Compromise on the Greek Question
The compromise which European leaders reached last week on aiding Greece may struck many foreign observers as evidence of the EU’s ineffectiveness at settling its internal discord, but it was in fact a minor victory for “President” Herman Van Rompuy and his campaign for greater economic governance from Brussels. Van Rompuy, former prime minister of […]
Greece Continues to Divide Europe
Germany is critical of a European Commission proposal to bail out Greece.
Euro Resentment Demands New Rules
Euroskepticism is abound anew. Where previously economist Paul Krugman argued that Greece could have weathered its fiscal crisis if it had retained its own currency, Judy Dempsey reports that Germans are increasingly nostalgic for their Deutsche Mark. “For Germans,” writes Dempsey, “the mark was more than just currency.” It represented the country’s postwar recovery, the […]
Just How Much Debt Are We In?
After The New York Times revealed on Saturday that Wall Street banks helped Greece keep its mounting debt off the books for many years, Edward Hugh at A Firstful of Euros explains how shady financial constructions allowed several European governments to hide part of their financial trouble. Eurostat, the EU’s agency for statistics, has been […]
Vague Pledge of Support for Greece
The European Council president promised to provide “determined and coordinated action” to Greece if needed.
Europe’s Uneven Recovery
Europe’s massive deficit spending is finally catching up with it. As Stefan Theil writes for Newsweek, markets reacted sharply this week “after rating agencies downgraded the public debt of Greece and warned about the outlook for several others.” With a deficit running at over 12 percent of GDP, Greece runs a serious risk of becoming […]