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The IMF’s Big Greek Mistake
Ultimately, the authorities’ approach merely replaced one problem with another: IMF and official European loans were used to repay private creditors. Thus, despite a belated restructuring in 2012,...
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Greek Parallel Currency: How to Do it Properly
The TCC avenue would clearly be a superior solution, and would allow Greece to stayin the Eurozone, while stimulating demand by increasing citizens’ purchasing power, reducing domestic labor costs, and...
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Weekend of Fear in Greece as Monday Brings Salvation or Ruin
Libération, 2 Novembre 2011 Dorothea Lambros stood outside an HSBC branch in central Athens on Friday afternoon, an envelope stuffed with cash in one hand and a 38,000 euro ($43,000) cashier’s check...
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A Finance Minister Fit for a Greek Tragedy?
At home, “V Is for Varoufakis” posters hung in the windows of cafes. Greeks showered him with love, twittered over his looks, and wrote adoring satires of his glamorous life and wide-ranging talents....
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Thomas Piketty : “Germany Has Never Repaid.”
ZEIT: So you’re telling us that the German Wirtschaftswunder [“economic miracle”] was based on the same kind of debt relief that we deny Greece today? Piketty: Exactly. After the war ended in 1945,...
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Europe Should Welcome Greece’s Vote
In reality, both Greece and the rest of the eurozone should treat the Greek vote as an opportunity to rethink the malfunctioning euro project. They can find a common interest in making it as painless...
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The Greek Warrior
A few years ago, Varoufakis told Yorgos Avgeropoulos, a documentary filmmaker, that the difference between a debt of ten thousand euros and one of three hundred billion euros is that only the latter...
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Black Monday, Kinda
Monday, August 24th brought you one of the weirdest trading day ever seen in the past several years. So to sum up what happened today, here are a few charts, courtesy of Bloomberg, ZeroHedge and...
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How Europe Crushed Greece
Op-Ed by Yanis Varoufakis : The fact that few people ever got to hear about the Greek plan is a testament to the eurozone’s deep failures of governance. If the “Athens Spring” — when the Greek people...
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Leaving Europe Would Be A Leap Into The Light
Michael Gove : The EU is an institution rooted in the past and is proving incapable of reforming to meet the big technological, demographic and economic challenges of our time. It was developed in the...
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