If you want to be scared, truly terrified, listen to Mark J. Grant… For the last two years, Mr. Grant, a managing director based in…
At any given time, then, there will be a sizable amount of euros flowing into Greek bank accounts. Even if some of this is immediately…
By Peter Boone and Simon Johnson In every economic crisis there comes a moment of clarity. In Europe soon, millions of people will wake up to realize that the euro-as-we-know-it is gone. Economic chaos awaits them. To understand why, first … Continue reading →
The only certain thing if Greece leaves the Eurozone is the uncertainty that will certainly follow.
Unable to form a coalition government during May elections, Greece has been forced to hold a second vote on June 17.
In the balance is the future of the Eurozone itself as a “Grexit” looms large.
So much is riding on the outcome that U.S. President Barack Obama and other leaders of the G-8 have conveyed their optimism that Greece will remain in the Eurozone when they convened for a summit on Saturday aimed at keeping Europe’s economic woes from stretching around the globe.
“All of us are absolutely committed to making sure that growth and stability and social consolidation are part of an overall package,” President Obama said.
But many other principals and economic experts are not as committed and believe a Greek exit would be the best move in the long run.
The question is what impact its departure will have beyond its own ailing borders if Greece renounces its debt and leaves the Eurozone.
Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank steps up support. President Karolos Papoulias told…
Jitters over whether Greece will be forced out of the euro have turned the focus of policymakers in recent days on whether Greece is on…
It looks increasingly likely that Greece will have to implement controls to prevent capital flight and a banking collapse. To my mind, the only real…
. On Greece
I spoke with someone from Athens today. It’s not a pretty picture.
Issues related to subsistence have replaced the fervor for demonstrations. This may not last according to this resident.
The closing of stores and shops is escalating. A…
Dr. Doom has given up hope for Greece
. In an FT piece, he says it’s time for Greece to default and abandon the euro.
The basic idea — which he outlined in a research piece a piece on Friday — is that Greece under the euro will lead to years and …