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Tag Archives: Greece

NO DEAL: EU Leaders want more from Greece before deciding fate

Europe-break-up1

European leaders cancelled a summit meeting that was to be held Sunday to either discuss a deal to save Greece’s spot in the EU or to push it out of the union. Sunday was to be the final, final, final last deadline for Greece to either submit an acceptable proposal for a bail-out or to be cast-off from the European ...

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Greece is given lifeline, but Sunday could be the end

greek flag

Greek ministers met with the EU, ECB and IMF leaders on Tuesday. The meeting resulted in a short-term loan to keep their banks afloat, but only until Sunday. Greece’s banks had almost completely run out of money. To help Greece survive until the meeting on Sunday, the European Central Bank (ECB) offered a small run of liquidity to Greek banks in trade for increased ...

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Will Greece turn to outright socialism?

Socialist flag

Red flags abound (pardon the pun) as Greece struggles with the results of decades of socialist-leaning policies. Socialism, as Lenin taught, is the pathway to communism, but the two are distinct. Both decry private ownership of property. Socialism puts command of industry in the hands of the government while communism gives ownership to the people (kind of.) Both result in lower ...

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Disrespect for Property at Heart of Global Debt Crisis

Europe-break-up1

In the aftermath of Greek voters’ overwhelming rejection of a deal with the European Central Bank, many options are being discussed to prevent the much discussed Grexit. Demonstrating that nothing is absolute in politics, especially when money is concerned, approximately a month will transpire before the actual repercussions of the vote are known, as European leaders must meet and discuss ...

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Greek Finance Minister gives resignation letter [full text]

Greek finance minister Yanis Varoufakis has, according to blog post with his name, resigned. After having kept a broke financial system working for months, Varoufakis submitted a letter saying that because his attendance at meetings with EU, IMF and ECB financiers had been viewed as objectionable, he is relinquishing his position. The referendum of 5th July will stay in history as ...

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Eurogeddon – Greece gives EU the one finger salute

Greek protester

The polls are in and Greece’s citizens have decided to reject the austerity measures required by European creditors to secure more credit. In a sort of nationalistic pride, the ‘no’ vote seems to have won as citizens agreed with Greek Prime Minister Tsipras that EU leaders were acting like terrorists. Citizens see the austerity measures as blackmail – forcing them ...

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Greece Votes!

"Hellenic Parliament from high above" by Gerard McGovern

Greek polls have closed and the indication from exit polling data is that Greece will thumb its nose at the European Union. With just 20% of the vote officially tallied, the no’s are leading the yes’s 60% to 40%. A ‘No’ vote (OXI) means that Greeks refuse the spending cuts and financial restructuring measures required by the nation’s creditors in ...

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Germany begs Britain not to leave the European Union

EU flag

International finance news has been singularly focused on Greece and its possible exit from the EU, but there is another EU Island nation considering a break from the European Union. The British Conservative government has found dealing with the EU to be a bureaucratic nightmare and Prime Minister David Cameron has made public comments about his dissatisfaction with it. The ...

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Greece’s Tsipras tries another head-fake, EU finmins say .. nope

Alexander Tsipras

The last few hours of financial news coverage has been a frenzied love fest over Greek Prime Minister’s supposed capitulation to all EU bailout requirements – except, he didn’t. Yesterday, Greece defaulted on 1.6billion euros in debt payments owed to the International Monetary Fund (IMF) and has been stubbornly refusing the demands of European Central Bankers and European Union ministers to ...

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WTH Weekly -06-28-15 – the week in review

Flags of our Fathers

Continuing the WTH (“what the heck” happened) series, this week we look at Obama’s Iran capitulation, a rocket explodes,Greece implodes, single payer closer than thought, gay marriage and concealed carry, Obamacare subsidies, flags of our forefathers, Jindal enters the race and more! Shockingly, Obama isn’t serious about the Iran nuclear talks. Today, reports surfaced that Obama has given into Iran’s demands ...

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Greece collapse begins

greeks line up for ATMs

The PIGS (Portugal, Ireland, Greece and Spain) have been under scrutiny for months due to their unsupportable mountains of debt in comparison to their incomes – on Monday, Greece may be the first to go down. Despite Greek Priminister Tsipras’ plea for calm in this video: Greeks lined up to drain ATMs of every ounce of cash they contained.   Reports ...

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Coca Cola Leaves Greece

coke

It’s not the real thing anymore. The country of Greece, facing continuing problems learned today that Coca Cola Hellenic will leaving them. This news is particularly devastating as unemployment in Greece jumped over 25% this week. Coca Cola Hellenic announced it will be shifting its trade listings from Athens to London and moving headquarters to Switzerland. As the largest company ...

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The Age Old Power Struggle: Chapter 2012

A Muslim cleric introduced Egypt’s new President, the Muslim Brotherhood’s Mohamed Morsi by saying: Our Capital ‘shall be Jerusalem, Allah willing’.  For his part, Morsi pronounced: Abroad women are ‘free,’ but not here. These types of proclamations do not bode well for Egyptian minorities, which includes members of the Coptic Church community, who make up about 10 per cent of ...

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Fundraise and Fore! obama’s Answer to World Events

Israel issued warnings over security problems with Egypt. Militants from the Sinai Peninsula crossed over into southern Israel Monday and fired on a border security fence, killing one Israeli. The IDF moved tanks and other armed forces to the Israel-Egypt border in response to the attack. Egypt is on the offensive against Israel. Egypt’s presidential election results lean towards victory ...

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