Greece is still in the news. Not surprising, since the European Union (EU) has never had such a huge problem as this with a member country. I’ve written a lot on the subject already and don’t want to belabor the point. But I’ll try to summarize here (data from Eurostat in billions of euros). Background. […]
The recent victory of the leftist party Syriza and the defiant attitude of its Government towards its lenders (EU, BCI and IMF, the so called troika) has thrust Greece into the headlines once again. Here we look at the numbers (from Eurostat, 2013), the problems and the negotiation alternatives of both sides – the Greek […]
Syriza’s victory was received as a victory for Europe’s generous and compassionate South, versus the stingy and vengeful North. We have no way of knowing if the South would have behaved better than the North if it had found itself in the role of creditor, nor are we entirely certain that the “slap in the […]
We asked our professors their opinion on whether a 2-speed euro would help.
The case of Greece has put the subject of sovereign default back in the news. What does it mean when a country is in default? What are the implications? Many people have asked me about this, so I think a little clarification is in order: . Argentina’s government may default even though many Argentine companies […]