The fatal consequences of troika’s blind austerity policy

When the ‘troika’, made up by the European Commission, the European Central Bank and the International Monetary Fund was atypically formed first in spring of 2010 to bail out and audit Greece, its widely advertised purpose was to inflict an internal devaluation on this country. Later on the troika undertook to perform the same task […]

Convincing the Germans to pay also for the unification of Eurozone

What Angela Merkel, the German Chancellor, said about the uncertainties that an eventual new hair-cut of the Greek state debt may trigger doesn’t exclude this possibility. She stressed that it may set off a “domino effect of uncertainty” and scare off possible investors. But the country has already performed a voluntary hair-cut on the privately […]