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Europe

Consequences of the Greek OXI (no) Vote

Posted July 5, 2015 by Ian Welsh

A few points: This isn’t about soaking bankers.  Bankers, with some exceptions, were paid off during the “bailouts”.  Right now it is taxpayers who are on the hook. If you wanted this done right (lenders take their losses), it had to be done in 2010. The immediate question is if ECB will restore “lender of […]

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Europe

Greek Referendum Day

Posted July 5, 2015 by Ian Welsh

It’s here. I don’t have much to say about it I haven’t already, but if folks want a thread to discuss it, feel free to do so below. As with most readers, I imagine, I’m cheering for “no.” Also, take a look at this video (which I can’t figure out how to embed). I can’t […]

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Europe

France Arrests Uber Executives

Posted June 29, 2015 by Ian Welsh

To recap: French Taxi drivers went on strike, beat cars with metal baseball bats, and damn near shut down Paris’s airport. As a result, France arrested two French Uber executives. It has also been seizing the cars of Uber drivers. Unions work. Violence, done smart, works. (French truck drivers, when they want something, will en-masse […]

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Europe

Syriza and the EU Seem to Be in Completely Different Worlds

Posted June 29, 2015 by Ian Welsh

Juncker, Hollande, and Merkel have all warned that a “no” vote in the Greek referendum will mean Greece will face leaving the Euro. Meanwhile, Greek PM Tsipras argued today that a “no” vote gives the Greek government a stronger negotiating position. So, yeah, who’s right? Who knows. Depends if the EU leaders are serious. I […]

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Europe

How Eurocrats, Greeks, Germans, and Eastern Europeans View the Greek Crisis

Posted June 28, 2015 by Mandos

The Syriza government in Greece just made the move of proposing a referendum on the creditors’ last (unacceptable) offer, so the Greek people can now choose a destiny from a set of unpleasant destinies to which history has brought them. From the creditor’s perspective, this pushes them into precisely the situation they have spent the […]

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Europe

Finance Ministers Refuse an Extension to Their Offer to Greece

Posted June 27, 2015 by Ian Welsh

There were rumors this would be the response last night. To put it simply, they are beyond offended that Syriza wants to put something which concerns all Greeks to a referendum. This is against European values. I find this, from the NYTimes, interesting: The refusal by the Eurogroup to grant Mr. Tsipras the extension was […]

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Europe

Syriza Will Put Bailout to a Referendum

Posted June 26, 2015 by Ian Welsh

This is a correct action.  In an unexpected move, Prime Minister Alexis Tsipras went on national television early Saturday to call for a referendum on July 5 so that Greek citizens can decide whether to accept or reject the terms of a bailout deal proposed by the country’s creditors. This is now a democratic decision. […]

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