Greece Archive

  • Canadian Finance Minister Jim Flaherty (picture Joshua Sherurcij)

    Overwhelming

    This blog has described before the difficulties associated with Greek departure from the eurozone. It would reduce the Greeks to a cash or even barter economy for a while, and destroy many people’s savings and investments. However, given that the latest news from Greece –...

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  • Bailed out: Lucas Papademos, prime minister of Greece

    A special case

    A second bailout loan for Greece has been agreed at a European summit, to stave off imminent bankruptcy for the government with all that implies.  No-one knows for sure what is implied by bankruptcy, but it can’t be good, which is why an agreement, with...

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  • Bailed out: Lucas Papademos, prime minister of Greece

    Greek default position

    Letter in the Daily Telegraph SIR – Peter Oborne calls for Greece to be “allowed to default and devalue” (Comment, February 16). It does not need to be allowed: it is already free to do so. It would mean turning its back on economic integration...

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  • Angela Merkel, chancellor of Germany (picture Jacques Grießmayer)

    Whatever it takes?

    Germany, we were told, would do whatever it takes to save the euro.  Such a clear, unequivocal commitment should serve to reassure the markets and convince the public that the European Union would be put back on the right road. However, such a commitment cannot...

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  • Greekriotslandscape

    The agony of Greece

    The word agony comes from the Greek agōnia, meaning struggle, and struggle there certainly is.  Can the Greek government implement the changes deemed necessary by the other EU governments in order for them to continue lending money to keep the Greek state afloat?  Can the...

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  • Christine Lagarde, managing director of the IMF - who voted for her? (picture IMF)

    Federal Union review of 2011

    Last year was dominated by the crisis in the eurozone.  It dominated the debate about the future of European integration, obviously, but has also turned out to be a major influence both in the UK and around the world. Taking Europe first, it is absurd...

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  • Angela Merkel (picture European Commission)

    Is Germany doing enough to save the euro?

    Debate at King’s College London, on 12 December 2011, on the subject of “Germany has not taken enough proactive steps to solve the eurozone crisis, despite being at the top table of European politics and its economic standing.”  Richard Laming was asked to speak against...

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  • David Aaronovitch: not guilty

    What went wrong with the euro?

    Peter Oborne’s campaign against the pro-Europeans took another step yesterday with his online debate with David Aaronovitch.  The latter was one of the targets in his recent book “The guilty men”, and the Centre for Policy Studies hosted an exchange of views between them on...

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  • Bailed out: Lucas Papademos, prime minister of Greece

    Who’s deposing whom?

    If man proposes and God disposes, it is the bond market that deposes. Two prime ministers have resigned in the past week – George Papandreou of Greece and Silvio Berlusconi of Italy – to be replaced by bankers of no known party political affiliation.  Formally,...

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  • George Papandreou, prime minister of Greece (picture MARKELLOS / Flickr)

    A referendum in Greece?

    It is hard, at the time of writing, to know what to make of the suggestion that there should be a referendum in Greece on the terms of the bailout agreed by the eurozone governments.  The idea was floated by the Greek prime minister George...

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