Tsipras’ choice : running with the hare and hunting with the hounds

On the surface, Tsipras’ decision to hold a Referendum on the EU agreement proposal seems irreprehensible. This is a  crucial decision for Greece  which would have far reaching economic and political implications for the next few years (Drachma vs Euro, Russia/EU influence). Democracy requires that the people should decide. This  narrative is nonsense. Tsipras has […]

The Greek Saga and Redemptions

The next two weeks are going to be crucial for the Greek saga. The  Frankfurter Allgemeine Zeitung reports that the Greek government has about until the first week of April before running out of cash. Assuming this is  true, a deal on reforms will have to be signed off by then. Debt coming due is […]

A Debt Buy-Back Is Bad for Greece

According to FT Deutschland (quoted by Eurointelligence) on Saturday EU ministers agreed on a mix of measures, including buyback of Greek debt with EFSF money, tapping ECB and national central banks profits on Greek bond purchases and lowering interest rates on bilateral loans to Athens. These buybacks are beneficial to creditors (now mainly EU and […]

The Troika’s Disaster

The new delay in the disbursement of the tranche of 44 billion from the “troika” (ECB, EU, IMF ) to Greece poses serious problems of economic and political nature to Greece, the entire Euro zone, but also to the International Monetary Fund. it threatens the solvency of the Greek banking system, for whose recapitalization about […]

Contagion? What Contagion?

The Greek bankruptcy (happened already with the debt restructuring), the ungovernability of the country sanctioned by the polls, and the prospect of exit from the Euro, evoke the specter of “contagion”. The fear shaking markets, governments as well as depositors, is that the precipitation of the Greek crisis will cause a crack on a continental […]

Intervista sulle Privatizzazioni in Grecia

Intervista a Rafal Wos della Dziennik Gazeta Prawna (DGP, Polonia) “L’Unione ha costretto la Grecia alla privatizzazione ampio, che mira a stabilizzare il suo bilancio. Piano di vendere una commissione internazionale a sorvegliare. “Come ogni debitore, i  Greci non hanno altra scelta, se non di seguire i termini dei loro salvatori finanziari” – in un […]