Eurozone Crisis

Europe's Single Currency in Peril

Tsipras Calls a Referendum on Himself

David Francis, Foreign Policy

Restoring Europe

James Galbraith, The American Prospect

The Defeat of Europe

Yanis Varoufakis, Le Monde Diplomatique

A New Euro, Just for the Losers

Daniel Alpert, Foreign Policy

Greek Prime Minister Alexis Tsipras resigned Thursday, triggering a new national election. That vote will be a referendum on his leadership as he accepted austerity in exchange for...(full article)

But there are ways in which debt could be sensibly restructured without any cost to taxpayers and in a manner that brings Europeans closer together. One such step is the debt-conve...(full article)

Professor Guarino's proposal is to try to save Europe—that is, the European Union—by repealing the illegitimate regulations that now strangle it. It is to refound the U...(full article)

The Eurogroup — which has no legal standing — is anti-democratic, disdainful of the European Commission, which it now commands, and internally fractured. This is what i...(full article)

The only thing that can save Europe’s common currency is another common currency — for the B-Team....(full article)

Most Recent Articles

Europe Learns Some Hard Lessons Greek Bailout Is Set - Irish Times

The Greek bailout is almost ready to go, though it still faces parliamentary votes today in Germany and the Netherlands, the latter of which could conceivably cause difficulties. T...

Syriza Seems Set to Split - Helen Popper, Politico EU

A showdown with rebels in the Syriza party looks inevitable in September....

What Greece Needs to Prosper - Edmund Phelps, Project Syndicate

NEW YORK – Some economists overlook the modern idea that a country’s prosperity depends on innovation and entrepreneurship. They take the mechanistic view that prosperi...

Why Greece Declined a Euro Holiday - Daniel Gros, Project Syndicate

BRUSSELS – For the entire first half of this year, since the far-left, anti-austerity Syriza party came to power in January, the Greek saga virtually monopolized the attentio...

Germans Don't Want to 'Punish' Greece - Ulrich Speck & Jeanne Park, CFR

Things are in flux but this doesn't mean the EU isn't working per se. So I wouldn't say this is an EU in decline. Rather it is an EU that is somehow confused....

The Government the Eurozone Deserves - Y. Papantoniou, Project Syndicate

All of this presupposes that the powers of the EU’s supranational institutions, the European Parliament and the European Commission, will be significantly augmented. The Comm...

The IMF Wises Up on Greece - Mohamed El-Erian, Bloomberg View

By hesitating to play a full financing role in the latest bailout program for Greece, the International Monetary Fund risks alienating both the Greek government and its European pa...

Who's Nexit? 5 EuroStates in Trouble - Daniel Altman, Foreign Policy

Which will be the next eurozone domino to fall? With Greece enjoying a temporary lull in its apparently permanent crisis, we can take a moment to look around its neighborhood at ot...

How Tsipras Made Himself Indispensable - Fabio Rafael Fiallo, RCWorld

What if Greece's Prime Minister Alexis Tsipras willfully sought to cave in to Greece's creditors?...

How the Eurozone Survived the Greek Debt Crisis - Euractiv

The Greek crisis has strained nerves on the eurozone debt market, but unlike four years ago there has been no contagion of financial uncertainty across the single currency bloc....

Escaping the Greek Debt Trap - Eichengreen, Allen & Evans, Bloomberg View

Greece's debt is unsustainable. The International Monetary Fund has said so, and it's hard to find anyone who disagrees. The Greek government sees structural reform without debt re...

There Are No Rules in the Eurozone - Wolfgang Munchau, Financial Times

The fact is they are making up the rules as they go along to suit their own political purposes....

Are We on the Threshold of a Federal Europe? - M. Del Santo, Interpreter

Four days ago, French President François Hollande declared his in-principle commitment to the creation of a 'euro government, with the addition of a specific budget and a pa...

How the Euro Turned into a Trap - New York Times

When they introduced the euro in 1999, European leaders said the common currency would be irreversible and would lead to greater economic and political integration among their coun...

Greece, the Sacrificial Lamb - Joseph Stiglitz, New York Times

Austerity is largely to blame for Greece’s current depression — a decline of gross domestic product of 25 percent since 2008, an unemployment rate of 25 percent and a y...

Why the Greek Deal Will Work - Anatole Kaletsky, Project Syndicate

Now that Greek banks have reopened and the government has made scheduled payments to the European Central Bank and the International Monetary Fund, does Greece’s near-death e...

Let Greece Leave - David Ignatius, Washington Post

The Greek financial crisis has eased -- for now. But many skeptics share the worry of German Finance Minister Wolfgang Schauble that the bailout plan may not work, and that the onl...

The EU Pulverized Greece, and Syriza Helped - Tariq Ali, LRB

According to Timothy Geithner, the former US treasury secretary, the attitude of the European finance ministers at the start of the crisis was: ‘We’re going to teach th...

Schauble: Germany Is Fighting for Europe - Brinkbaumer et al, Spiegel

We are currently seeing that a currency union without political union cannot function without complications. So we have to move further toward establishing a political union, for e...

Europe's Impossible Dream - Paul Krugman, New York Times

How did things go so wrong? The answer is that this is what happens when self-indulgent politicians ignore arithmetic and the lessons of history. And no, I’m not talking abou...

Greece Must Default on Debts and Leave Euro - Simon Watkins, Mail

The recent abatement of the crisis must not be wasted. If anything now is the time for even more hard work. Because Greece's politicians and its people need to use this period of c...

The European Project, from Riches to Rags - Henry Ergas, The Australian

It isn't only for Greece that hope has proven the handmaiden to misery, as it always does in the classical tragedies. Rather, after the turmoil of the last month, what little remai...

The Tragedy of German Leadership - Der Spiegel

German Finance Minister Wolfgang Schäuble had a plan to push Greece out of the euro zone. Chancellor Merkel wasn't sure what to do about it. The result is widespread resentmen...

Why Is Berlin Tough on Greece? Look Back 25 Years - D. Laabs, Guardian

To understand Wolfgang Schäuble’s demands in the bailout talks, look at what he inflicted on his own country when it reunified....

Germany Should Exit the Euro - Ashoka Mody, Bloomberg View

The latest round of wrangling between Greece and its European creditors has demonstrated yet again that countries with such disparate economies should never have entered a currency...

History's Lesson: The EU Is a Survivor - Ron Tiersky, RealClearWorld

The European Union's pattern has always been to make significant advances by crisis. After the trouble ebbs, a period of stability follows as the new order is established, until st...

A Nakedly German Europe - Rosemary Righter, Politico EU

“Brutal. …Violent. … A crucifixion.”  In Brussels, the world capital of circumlocution where “difficult” is as bad as it gets, such langu...

An Empire Strikes Back: Germany and the Crisis - G. Friedman, Stratfor

The Greek people had backed Germany into a corner, where its only choice was to risk everything. It was not a good place for Greece to put the Germans. They struck back with vengea...

#ThisWasNotaCoup - Hugo Dixon, Politico EU

Tsipras was either lying or living in Lalaland. The referendum left Greece with two choices: quit the euro or beg for mercy. The same night that Tsipras won his plebiscite, he perf...

Greece and Europe: An Unhealthy Affair - Mark Gilbert, Bloomberg View

Remember the birth of the euro, when countries had to clear a set of economic hurdles to be considered worthy of membership? Those thresholds on debts and deficits had two purposes...

If This Is a Win for Europe, What Does Defeat Look Like? - N. Irwin, NYT

For years, Greece’s negotiations with its European creditors have featured moments in which all parties stare into the abyss, fear what they see, and step back to reach a dea...

Europe Retreats to Its Franco-German Core - David Ignatius, WaPo

When the financial details are stripped away, the Greek bailout deal reached early Monday morning is really a reassertion of the core idea of post-war Europe — which is that ...

The Eurozone's Damaging Deal - New York Times

In the end, after trying every possible tactic, Prime Minister Alexis Tsipras of Greece threw in the towel and accepted the toughest demands yet made by creditors to extend life su...

The Deal that Solves Nothing - The Guardian

The Greek deal is unfair and unlikely to work. Far from easing the pace of austerity, the agreement embeds it....

A Brechtian Dose of European Realism - Kaj Leers, RealClearWorld

As news of a European deal to keep Greece in the eurozone reverberates around the continent, commentators, opinion leaders, and politicians of all stripes wonder what happened to t...

Greece's Painful, Humiliating Agreement with Europe - Economist

AT ONE point during marathon euro-zone talks in Brussels on the evening of July 12th, Alexis Tsipras was a few minutes late returning from a break. A rumour took flight: the Greek ...

The Greek Crisis Deepens Europe's Fault Lines - Stratfor

The events of the weekend were notable because they highlighted the extent to which the crisis goes beyond the situation in Greece. For the first time in six decades of European in...

This Is How You Destroy the Eurozone - Wolfgang Munchau, Fin. Times

By forcing Alexis Tsipras into a humiliating defeat, Greece’s creditors have done a lot more than bring about regime change in Greece or endanger its relations with the euroz...

Greece's Varoufakis: We Were Set Up - Harry Lambert, New Statesman

Varoufakis, who resigned a week ago, has been criticised for not signing an agreement sooner, but he said the deal that Greece was offered was not made in good faith – or eve...

Europe's Bad Cops - Matthew Karnitschnig, Politico EU

Why are Merkel and Schäuble so harsh with Athens? Look at German domestic politics....

There Is Reason to Celebrate the Greek Deal - Douglas Elliott, Brookings

Greece and its European creditors reached a tentative deal a few hours ago after a weekend of intense acrimony and tough negotiation. The three year deal for about 85 billion euros...

Polish FM: Months to Save Euro

The Latest Videos from Around the WorldPolish Finance Minister Jacek Rostowski discusses the debt crisis affecting Europe and steps needed to be taken.Posted on September 16, 2011...

Eurozone News

CBS journalists shot and killed dur

A pair of television journalists at a CBS affiliate in Virginia were shot and killed during a live b...

Suspect in 1996 Khobar Towers bombi

WASHINGTON (AP) — A man suspected in the 1996 bombing of the Khobar Towers residence at a U.S. mil...

Trump starts new media feud with Un

The GOP frontrunner lashes out at the prominent TV anchor: "Go back to Univision."...

Authorities: Teacher calmed teen wh

PHILIPPI, W.Va. (AP) — With 29 terrified students looking on, a West Virginia high school teacher ...

Dust-covered woman from iconic 9/11

A survivor of the September 11, 2001 attacks on New York who was featured in one of the most hauntin...

Eurozone from RealClearMarkets

Eurozone from The Compass Blog

Southern Europeans Don't Trust Thei

Less than one-in-five residents of Portugal, Spain, Greece and Italy say they have confidence in the...

Why Did Angela Merkel Win a Third T

The results are in: Angela Merkel will remain queen chancellor of Germany for another four years. ...

Who Doesn't Trust Banks? Europeans

Europeans are more likely to distrust banks than anyone else around the world, according to a new ...

Greek Parliament Member Yells "Heil

An MP for the ultra-right Golden Dawn party, Panayiotis Iliopoulos, was ejected from a session in ...

Some of Greece's Best Are Fleeing t

Over 120,000 Greek professionals have fled the country since 2010, according to a study from Unive...

EU Countries and Eurozone

  • EU countries in the Eurozone
  • Austria (1999)
  • Belgium (1999)
  • Cyprus (2008)
  • Finland (1999)
  • France (1999)
  • Germany (1999)
  • Greece (2001)
  • Ireland (1999)
  • Italy (1999)
  • Luxembourg (1999)
  • Malta (2008)
  • Netherlands (1999)
  • Portugal (1999)
  • Slovakia (2009)
  • Slovenia (2007)
  • Spain (1999)
  • EU countries not in the Eurozone
  • Bulgaria
  • Czech Republic
  • Denmark
  • Estonia
  • Hungary
  • Latvia
  • Lithuania
  • Poland
  • Romania
  • Sweden
  • United Kingdom