Why Italy will not follow the Greek road; Eurozone to change or unravel

the next Italian election is, very probably, to take place within the next few months or even weeks. Then, Berlin, the rest of Eurozone capitals and probably the entire western financial world will learn, if it’s still politically possible to ask just one country’s taxpayers to save an obviously faltering global financial system. The test […]

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, […]