Merkel and Sarkozy Have Lost Credibility

The Wall Street Journal

Six weeks to save the euro," European leaders promised the world in September. That deadline passed at last week's Cannes G-20 summit with the goal looking further away then ever. Nothing of substance was agreed on the French Riviera to aid the cause of euro survival, but one giant decision was taken that could hasten its demise. Angela Merkel and Nicolas Sarkozy's announcement that Greece is free to leave the euro has transformed the nature of the euro.

Greeks Hit Blocks in Bid to Name Government

The Wall Street Journal

By COSTAS PARIS and ALKMAN GRANITSAS

ATHENS—Greek politicians hit new roadblocks in their race to name an interim administration, tempering optimism that the country's main parties would name a new government by Monday.

Insight: Euro has new politburo but no solution yet

(Reuters) - Europe has a new informal leadership directorate intent on finding a solution to the euro zone's debt crisis, but it has yet to prove its ability to come up with a lasting formula.

Forged in the fire of a bond market inferno, the shadowy so-called Frankfurt Group has grabbed the helm of the 17-nation currency area in a few short weeks.

Αναζητώντας ένα πολιτικό μορατόριουμ

Του Πάσχου Μανδραβέλη

Κυριακή, 06 Νοέμβριος 2011 13:23

Δεν ξέρουμε αν είναι τραγωδία ή κωμωδία αυτό που διαδραματίζεται μπροστά στα μάτια μας αυτές τις μέρες, κατά πως γράφει το γερμανικό περιοδικό Spiegel, αλλά σίγουρα είναι ένα κλασικό ελληνικό έργο στο οποίο όλοι προσέχουν τι κάνουν οι πρωταγωνιστές σε ένα θέατρο που φλέγεται. Aπαντες ασχολούμαστε με τις «ντρίμπλες» και τις «κωλοτούμπες», όπως είναι οι αγαπημένες εκφράσεις στα τηλεοπτικά παράθυρα, και κανείς με τη φωτιά.

Φαρισσαίοι

Γιάννης Σιδέρης01/11/2011 | 11:55

Skai.gr

Ηταν μια κίνηση απρόσμενη αυτή του πρωθυπουργού για το Δημοψήφισμα, που αναδιατάσσει το πολιτικό τοπίο και ορίζει νέες συντεταγμένες.

Χορός αυτοκαταστροφής

Του Aλεξη Παπαχελα

Hμερομηνία :  02-11-11

Η μόνη μου ελπίδα είναι ότι η άφρων και ανεύθυνη πράξη του κ. Παπανδρέου θα μας κάνει ΟΛΟΥΣ να έλθουμε στα λογικά μας….

________________________________________________________________________

Θα προσπαθήσω να είμαι σαφής, ψύχραιμος και δίκαιος.

Opinion: A risky Greek gambit with few alternatives

From DW  World.DE

The Greek referendum on the EU bailout plan proposed by premier George Papandreou has stunned EU leaders and markets. But DW's Spiros Muskovou says Papandreou had few options left.

Greece Faces Grilling at G-20

Fears of Political Chaos Tank Global Markets as Europe's Bailout Plan Teeters

The Wall Street Journal

By MARCUS WALKER And ALKMAN GRANITSAS

Greek Prime Minister George Papandreou, fighting for political survival at home, faced a grilling from euro-zone leaders over his plan to put Greece's international bailout to a referendum.

Ο μονόδρομος και τα διλήμματα

Του Πάσχου Μανδραβέλη

Τετάρτη, 02 Νοέμβριος 2011 09:13

Ανθ' ημών Καϊλή. Τελικώς, αντί να αποφανθεί ο λαός μίλησαν οι κυρίες της Βουλής, Μιλένα Αποστολάκη, Εύα Καϊλή, Βάσω Παπανδρέου και δεν ξέρουμε ποιος άλλος μέχρι να γραφτούν αυτές οι γραμμές. Ολα δείχνουν ότι η αναγγελία του δημοψηφίσματος ήταν μια απεγνωσμένη κίνηση του κ. Παπανδρέου να προλάβει τις πολιτικές εξελίξεις. Μάλλον τις επιτάχυνε.

Πατριώτες με το αζημίωτο

Πάσχος Μανδραβέλης

Κυριακή, 30 Οκτώβριος 2011 10:22

Να συμφωνήσουμε ότι το ιδανικό θα ήταν να διαγράψουν όλο το χρέος, να μάς έδιναν περί τα διακόσια δισ. για τα έξοδά μας μέχρι το 2020 και χωρίς να ρωτάνε πολλά, πολλά. Το τελευταίο είναι πολύ σημαντικό για την εθνική μας κυριαρχία, η οποία πλήττεται αφάνταστα κάθε φορά που η τρόικα ρωτάει τι κάναμε την προηγούμενη δόση και ζητάει συγκεκριμένες ενέργειες για τα λεφτά της επόμενης. Για πολλούς -πολύ αριστερούς, ή πολύ δεξιούς- η εθνική κυριαρχία δεν πλήττεται όταν έχεις απλωμένο το δεξί χέρι στη ζητιανιά· ενισχύεται με το αριστερό υψωμένο σε γροθιά.

Greek Vote Threatens Bailout

Premier Calls for Surprise Referendum Days After European Leaders OK Aid Deal

The Wall Street Journal

ATHENS—Greek Prime Minister George Papandreou stunned Europe by announcing a referendum on his country's latest bailout—a high-stakes gamble that could undermine the international effort to preserve the euro.

EU Sets 50% Greek Writedown, $1.4T in Rescue Fund

Bloomberg

By James G. Neuger and Stephanie Bodoni - Oct 27, 2011 9:11 AM GMT+0300

European leaders persuaded bondholders to take 50 percent losses on Greek debt and boosted the firepower of the rescue fund to 1 trillion euros ($1.4 trillion), responding to global pressure to step up the fight against the financial crisis.

Statement for the EU agreement on debt crisis

'via Blog this'

A Greek Short Back and Sides

Would a 50% cut in the value of Greek debt be enough?

The wall street journal

That depends on who’s losing out.

If Greece’s obligations to the European Central Bank and International Monetary Fund are considered inviolable, while Greece at the same time uses existing resources to recapitalize its banks, a 50% default will result in only a quarter of Greece’s debt load being lifted, according to a recent UBS note.

EU Signals Fund Leverage Needs More Talks

Bloomberg

By Brian Parkin and Rainer Buergin - Oct 25, 2011 9:57 AM GMT+0300Boosting the effectiveness of Europe’s bailout fund will require further talks with investors as German lawmakers prepare to vote on its new powers tomorrow, a European Union document showed.

Capitalism and its critics

Rage against the machine

The Economist

People are right to be angry. But it is also right to be worried about where populism could take politicsFROM Seattle to Sydney, protesters have taken to the streets. Whether they are inspired by the Occupy Wall Street movement in New York or by the indignados in Madrid, they burn with dissatisfaction about the state of the economy, about the unfair way that the poor are paying for the sins of rich bankers, and in some cases about capitalism itself.

Germany, France Delay Euro Rescue Plan

Leaders of Currency Zone's Two Largest Economies, at Odds Over Rescue Plans, Say No Pact Possible by Sunday Deadline

The Wall Street Journal

BERLIN—Europe's efforts to deliver a comprehensive plan to resolve the euro-zone debt crisis were in danger of unraveling Thursday as disagreement between Germany and France over virtually every point forced the 27-nation bloc to concede a much-anticipated summit of European Union leaders on Sunday won't produce an agreement.

China’s economy: Hitting the kerb

A squeeze on lending hits China’s entrepreneurial heartland

TAXI drivers, to the puzzlement of economists, often work long hours on slow days and clock off early in busy periods. In Wenzhou, a city in China’s Zhejiang province famous for its entrepreneurs, drivers are cannier. At busy times, they keep their “For hire” lights on even after picking up a passenger, hoping to find another fare going in the same direction. That way, they double their money—although only one fare registers on the meter. With lots of bustle and a little hustle, Wenzhou businessmen have contributed enormously to China’s economic progress. That success continued in the third quarter, when China’s output grew by 9.1% compared with a year earlier (see chart 1). But the threats to growth are mounting, and Wenzhou symbolises one of the dangers.

Wanted: Plans for the Euro's Demise

A £250,000 reward for the least-bad euro-zone doomsday scenario.

A breakup of the euro zone has been the political and economic nightmare for European policy makers since Greece's troubles began in the spring of 2010. EU leaders are holding yet another summit this weekend in a bid to keep the euro zone together. Yet given the way the crisis has been mishandled so far, failure can't be ruled out.

Το χρέος, η τρόικα και οι ελληνικοί μύθοι

Πάσχος Μανδραβέλης

Κυριακή, 16 Οκτώβριος 2011 13:05

Τα παλιά χρόνια τα πράγματα ήταν σχετικώς απλά. Αν κάποιος δεν μπορούσε να αποπληρώσει τα δάνειά του, άρπαζαν τη γυναίκα και τα παιδιά για να τα πουλήσουν στα σκλαβοπάζαρα ώστε να αποπληρωθεί το χρέος. Ή, έστω, έστελναν τις κανονιοφόρους στον Πειραιά και υπαγόρευαν τους όρους αποπληρωμής των δανείων.