February 8, 2012

The Upside of Greece's Devastating Debt Crisis

Chicago Tribune, Chicago Tribune

AP Photo

Tough as they are, the terms being offered to Greece in many ways amount to a gift: In exchange for accepting strict fiscal discipline that will help Greece to recover on a firm footing over time, much of its debt would be written off.

Read Full Article ››

TAGGED: Greece, Eurozone


February 4, 2012
Greece's Real Challenge
Katinka Barysch, Centre for European Reform
  The German idea of sending Athens a 'budget commissioner' was daft. Berlin itself could not tolerate such interference in its fiscal sovereignty (the constitutional court would never allow it). But to restrict such... more ››
February 8, 2012
Time to End Greek Rescue Farce
Stefan Kaiser, Der Spiegel
For the past two years, Greece has wrangled with the euro-zone states and the International Monetary Fund (IMF) over its so-called "rescue." Austerity measures have been agreed to, aid has been paid and private creditors have... more ››
February 7, 2012
Why It Won't Be a Tragedy if Greece Defaults
Mark Sheetz, Foreign Policy
European leaders are working around the clock to prevent a Greek default -- as if they had a choice. more ››
January 26, 2012
The Eurozone's Strategy of Pain
Jean Pisani-Ferry, Project Syndicate
For the third year in a row, the eurozone is the weakest link in the world economy. In 2010, attention was focused on responses to the crisis on the eurozone periphery – Greece, Portugal, and Ireland. In 2011, the crisis moved... more ››
Martial music booms from the loudspeakers as warlike images gallop across monitors. A short euro crisis film montage shows police officers being posted in front of the parliament building in Athens and the jostling of frantic... more ››