8 results for 'greece'
...the diktat of the European Union, a sign of the madness that has arisen from monetary union. It’s a consequence of the arrogance of the politicians and bureaucrats who govern the destiny of Europe, who believed that national electorates could be ignored and sidestepped with impunity.
Greece, sinking ever deeper into recession, wanted to make a gesture, and it has. In making the gesture, in retreating from the mainstream into the fringe, people were clear what they were voting against; it’s just that they seemed to have no clear idea what they were voting for. Since the... (more)
While there are many rationale for this slowly-turning scourge, not the least of which is the usual greed and power lust, we would do well to look very closely at what is unfolding in the European Union currently. The so-called debt crisis churning both markets and national aspirations in Greece as well as other European countries suggests that similar roots of excess debt are drivers in these other fragile experiments, as well. Now, debt is not a new thing - many nations have had to deal with it throughout history, the United States being simply the largest debtor nation currently. So ... (more)
...single word - No!
The Euro crisis, a Greek tragedy by any measure, is now in its final act, bodies strewn across the stage, the chorus wailing in the background. Of the prologue I said over a year ago on another news blog that there was a wonderful, almost divine irony in the fact that Greece, of all places, turned out to be the Achilles' Heel of the European Union, the weak spot that may in the end lead to the death of the whole mad project of a one-size-fits-all currency.
And so it has proved. For weeks now one crisis summit of European leaders has followed hard upon... (more)
... endlessly beyond their means. Imagine American tax payers working until they are seventy to ensure that Guatemalans can retire at fifty. Do you think this is a nightmare? Well, then look across the Atlantic to see it in reality, look not at my chimera but at the real life European Union.
Greece is on the verge of bankruptcy, on the verge of defaulting on what is called sovereign debt, the liabilities falling to the state. The euro, the currency of a good bit of the European Union (not Britain, thankfully) is on the verge of collapse. President Nicholas Sarkozy of France is in a mood... (more)
...the bastards right.”
The problem is, that’s someone’s pension you’re talking about. Every time the stock market loses points, someone loses money in their retirement fund. It impacts everyone when the stock market goes berserk like it did on Thursday and news coming in from Greece isn’t helping matters much.
Whether we like it or not, all economies are linked together so that whatever happens in Greece will affect people in Japan. If America has a bad day, London will have one tomorrow. It all moved back and forth like water in a bathtub. You cannot say,... (more)
...economy," Bernanke said. His frankness was not unexpected as most politicians, Federal, state and local, know that the country, their state and local towns and counties have put themselves in a situation where the deficits have grown to dangerous levels. Americans may be seeing their future in Greece where the Government is near bankrupt and begging for help from the European Union and the International Monetary Fund. The interest cost of their bonds has sky rocketed and there is a reasonable prospect for a default. At the same time, Greek union members and members of the general population ... (more)
Unfortunately, there is no towel large enough and no amount of baking soda that can save Greece from the fires that have ravaged the country since Friday, August 24. I had not immediately grasped the enormity of the situation until I saw a NASA photograph taken from space. Seeing that blew my mind; Greece was, and is, clearly under siege. Often, tragedy brings about both ingenuity and heroism, as demonstrated by George Dimopoulos in Makistos, Greece via The New York Times: When the water ran out, with pine cones popping and the flames still high around his house, George Dimopoulos switched... (more)
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