Yanis Varoufakis: “Unsustainable debt turns the creditor into Leviathan; Life under it is becoming nasty, brutish and short”

The Lethal Deferral of Greek Debt Restructuring Written by Yanis Varoufakis ATHENS – The point of restructuring debt is to reduce the volume of new loans needed to salvage an insolvent entity. Creditors offer debt relief to get more value back and to extend as little new finance to the insolvent entity as possible. Remarkably, […]

Does the Greek deal strengthen the Eurozone? Markets react cautiously

Is Eurozone strengthened after the Greek deal? At first reading the answer is a straightforward ‘yes’ because the other option, the Grexit, the exit of the country from the euro area, would have reversed the theoretically irreversible participation in the monetary zone. According to the Treaties, on which the Economic and Monetary Union (EMU) of […]

Tsipras imposes more austerity on insolvent Greece; plans to win new early election soon

On 9 July this newspaper predicted that the Greek Prime Minister Alexis Tsipras was adamant about keeping his country in the Eurozone. In order to do this the Sting foresaw that he was prepared not only to pay a dear price for a third bailout scheme (April 2010, June 2012 and July 2015) financed by […]

Greece’s future solely in the hands of Tsipras; he can direct the poor country any way he likes

Greece is obliged by today or the latest tomorrow Friday morning to submit to its Eurozone partners a new program with more severe austerity and deeper reforms, if the country wants to stay in the Eurozone. Alas, this is exactly the program the Greeks rejected last Sunday in a referendum. In case the Athens proposal […]

Juncker and Tusk killed Greece on 07 July 2015 to meet the Commission’s summer vacation plan? #Grexit #Greferendum #Graccident

The worst moment in the history of Eurozone took place on 07 July 2015 in Brussels. The common currency union leaders decided that the moment has come to kick Greece out. Although nobody had the guts to officially announce it yesterday the leaders of the 18 Eurozone countries together with Juncker’s Commission made just yesterday […]

Greece: Tsipras’ referendum victory does not solve the financial stalemate of the country and its banks

The imperative economic realities for the Greek Prime Minister Alexis Tsipras will not be altered noticeably after his crushing win in yesterday’s referendum. His ‘no’ (OXI in Greek) option marked an overwhelming victory meaning that the Greeks rejected the latest offer from the country’s creditors. To be reminded, during the past five months the Greek […]

Hardened creditors drive Greece to dire straits; Tsipras desperate for an agreement

Alexis Tsipras, the Greek Prime Minister, his government and their depressed country are now in real dire straits. This is a much worse position than in any time during the last five years, a period in which Greece repeatedly faced total collapse and was rescued by a troika of creditors (the European Union, the European […]

Greece’s Tsipras: Risking country and Eurozone or securing an extra argument for creditors?

The Greek Prime Minister Alexis Tsipras and his governing left wing SYRIZA party, cornered between its populist rhetoric for greener grass and the realities of the dragging on negotiations with the country’s creditors, called for a referendum next Sunday 5 July without a clearly defined question, denying to exactly clarify where the ‘yes’ or the […]

Greferendum: the biggest political gaffe in western modern history to tear Europe apart? #Grexit #Graccident

Once upon a time there was a beautiful historical country that used to be part of the European Union. It became the 10th country to join the block in 1981 and was evolved ever since to become a pole of stability and growth in the Balkan region and serve crucial geo-strategic interests in the Mediterranean. The introduction in the […]

GREXIT final wrap-up: nobody believed Aesop’s boy who cried wolf so many times

“The boy who cried wolf” is a famous Aesop’s fable having a boy Shepherd calling the village for help too often just for the fun of his. Of course after many false alarms when the village came to help the boy for nothing, soon they just ignored his next calls. We also all remember the bitter […]

“If they think they can slave an entire nation, then they will just have the opposite results!”, Alexis Tsipras cries out from the Greek parliament

The world is moving forward full speed ahead and the Greeks seem to be the heavy anchor that has not been effectively lifted. This time though it is nothing about the glass of the negotiations being half empty or half full, as the eurosceptics or the pro-Europeans would normally say. The glass broke last Wednesday […]

Spanish vote – bad luck for Greece: Does Iphigenia need to be sacrificed for favourable winds to blow in Eurozone?

Greece is running out not only of time but also luck. The country’s economy has been pending in limbo for the past four months, exhausting all its resources to survive the financial suffocation that the European Central Bank has imposed following the political orders by Berlin, Paris and Brussels, violating the bank’s “independent” role in the European […]

Does Greece really weigh what is asking for today in Russia?

Today is the day that Alexis Tsipras meets Vladimir Putin in Moscow to discuss about business and trade under a spiritual Easter atmosphere for the “Orthodox brothers”. The date of this summit was strategically decided to be this week, in order to put some pressure, at least this is what the Greeks believe, to the European leaders-creditors who […]

Greece lost a month that cannot be found neither in “mini Summits” nor in Berlin

It has been one long month since the Greek deal on the Eurogroup of 20 February where Greece and the rest of the Eurozone agreed to give to the former a four-month extension of the loan agreement. However, the Greek government does not seem to cooperate with the three institutions (ECB, IMF, EU) to actively and urgently […]

A young European voice on Grexit: too high a bill and too big a deal!

Written by Camilla Crovella, member of the Eustory Alumni Network and Spotlight Europe The European reality has always been crossed by threats of division and secessionisms due to its cultural and political diversity which constitutes both its weak point but also the basis for building its strength. One of these aspects, which has remained a […]

Can Greece’s democratic institutions keep it in Eurozone?

Paris, Washington and Brussels categorically reject the idea of a Grexit, while Berlin is still loudly insisting that the Eurozone can weather at a cost Greece’s secession. Behind closed doors though, the German decision makers are also not at all sure about that. Greece’s exit from Eurozone has lately become the talk of the town […]