Lessons from Latin America for Greece - FT.com

Lessons from Latin America for Greece - FT.com: "nderlying solvency problems were addr"

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For Greece, Oligarchs Are Obstacle to Recovery

By RACHEL DONADIO and LIZ ALDERMAN

The New York Times

Link: http://goo.gl/nkgwE

ATHENS — A dynamic entrepreneur, Lavrentis Lavrentiadis seemed to represent a promising new era for Greece. He dazzled the country’s traditionally insular business world by spinning together a multibillion-dollar empire just a few years after inheriting a small family firm at 18. Seeking acceptance in elite circles, he gave lavishly to charities and cultivated ties to the leading political parties.

Greece takes bottom EU spot in global corruption index

Greece replaces Bulgaria as lowest-ranking EU state

* Italy below ex-communist Romania in global league table

* China realises tackling graft in its own interests-TI

* Russian NGO curbs make it harder to check corruption -TI

By Gareth Jones

History Shows Why Germany Should Help Greece

By John Sfakianakis Dec 4, 2012 1:37 AM GMT+0200

Bloomberg

Germany’s Chancellor Angela Merkel has at last opened the door to the possibility of writing off Greek debts, but only several years from now. As they decide on the right thing to do, Germans should take a close look at their own history.

Merkel says understands Germans' frustration over Greece: paper

 (AP Photo/Michael Sohn, File)
BERLIN| Fri Nov 30, 2012 6:01pm EST

(Reuters) - German Chancellor Angela Merkel said she understood her compatriots' doubts about a bailout deal for Greece, but insisted in an interview that aid for Athens was in the interests of Berlin and all euro zone members.

Greece says voluntary debt buy back must succeed

(Reuters) - Greece's debt buyback plan, a key element of the cash-strapped country's bailout deal, will be voluntary but must succeed, Finance Minister Yannis Stournaras said on Wednesday.

Europe’s Plan C for Greece Is No Better Than Plans A or B

Bloomberg
Europe’s leaders have reached Plan C in their efforts to rescue Greece. Unfortunately, it lacks a crucial element also absent in Plans A and B: adequate debt relief.

Greece, markets satisfied by EU-IMF Greek debt deal

(Reuters) - The Greek government and financial markets were cheered on Tuesday by an agreement between euro zone finance ministers and the International Monetary Fund to reduce Greece's debt, paving the way for the release of urgently needed aid loans.

GLOBAL MARKETS-Shares, euro fall on Greece, U.S. fiscal talks

Mon Nov 26, 2012 2:48pm EST

* U.S. stocks fall as fiscal talks set to resume

 * Market focus on outcome of Greece aid negotiations

 * Euro edges down vs dollar

 NEW YORK, Nov 26 (Reuters) - Stocks around the globe and the euro were mostly lower on Monday, with investors cautious over whether Greece will receive emergency aid to keep it financially afloat and no signs of progress by U.S. lawmakers to avoid the U.S. "fiscal cliff."

Analysis: Greek economy pays high price for its high prices

By Alan Wheatley and Karolina Tagaris

ATHENS | Thu Nov 22, 2012 12:02pm EST

(Reuters) - Signs across Athens advertise property for rent or sale. One in three shops has closed. At those still open for business, turnover has slumped.

So it is one of the mysteries of Greece's economic depression that prices of some things - milk and the new iPhone, for example - are among the highest in Europe.

Standoff on Greece Driven by Short-Sighted Europolitics

http://www.forbes.com/sites/karlwhelan/2012/11/22/standoff-on-greece-driven-by-short-sighted-europolitics/

Forbes

Karl Whelan, Contributor

Economist focused on European macro issues

As Greece comes ever-closer to running out of money, the Eurozone finance ministers and the IMF have now met for two weeks in a row and failed to agree a new deal to loan Greece any additional funds.

Your Cheat-Sheet to Greece

By Matina Stevis

The Wall Street Journal

Another week, another euro-zone finance ministers’ meeting on Greece. Christine Lagarde, managing director of the International Monetary Fund, has flown back from Asia to attend the meeting starting later today, while European Central Bank president Mario Draghi and the European Union’s economics commissioner Olli Rehn are also due to be there.

Euro zone, IMF make progress on Greece: Juncker

By Matthias Inverardi

BIELEFELD, Germany | Sat Nov 17, 2012 9:12am EST

(Reuters) - Euro zone governments and the International Monetary Fund (IMF) are making headway in settling a row over how to make Greece's debt manageable, Eurogroup President Jean-Claude Juncker said on Saturday.

Greece: It’s Not About the Numbers

The Wall Street Journal

http://blogs.wsj.com/eurocrisis/2012/11/16/greece-its-not-about-the-numbers/

The spreadsheets spell it out clearly. Billions of euros of austerity measures on top of an already fast shrinking economy have made the country’s growing debt pile unsustainable.

IMF's Lagarde says important for euro zone to forge deal on Greece

(Reuters) - A crucial Eurogroup meeting next week on Greece should forge a deal that will put the insolvent country's economy on a sustainable path, International Monetary Fund (IMF) Managing Director Christine Lagarde said on Friday.

On Greece, Christine Lagarde Is the Grown-Up at the Table

By the Editors Nov 14, 2012 1:30 AM GMT+0200

One way or another, the governments and other official lenders that have bailed out Greece and now hold its debt are going to lose some or all of that money.

Europe Gives Greece 2 More Years to Reach Deficit Targets

By James G. Neuger and Stephanie Bodoni - Nov 13, 2012 5:09 AM GMT+0200

Bloomberg

Euro-area finance ministers gave Greece two extra years to wrestle down its budget deficit, pledging to plug the resulting financing gaps in order to keep the country in the single currency and prevent a renewed flareup of the debt crisis.

UPDATE 2-Greece will roll over T-bills due to aid delay

Fri Nov 9, 2012 8:06am EST

* More than 5 bln euros in T-bills due on Nov. 16

* Greece expects aid tranche only after bills mature

* ECB expected to let Greece raise ceiling on amount of T-bills allowed

By Lefteris Papadimas

Greece Drinks the Hemlock

EDITORIAL

The International Herald  Tribune

Published: November 8, 2012

http://www.nytimes.com/2012/11/09/opinion/greece-drinks-the-hemlock.html#h[]

Greece’s Parliament did what it had to do on Thursday. Despite some defections from the ruling centrist coalition, lawmakers narrowly approved a $23 billion package of new austerity measures, including further spending cuts to social services, pensions and public salaries, as well as tax increases demanded by Greece’s European lenders.

Barack Obama's second term

Now, hug a Republican

A budget deal makes sense for the re-elected president, his opponents, his country and the world

Nov 10th 2012

The Economist