The EU would have experienced some growth if it wasn’t for the situation with Greece. Even if Angela Merkel did wipe away some of Germany’s political capital by taking a firm stance with Greece, she had to do it. Greece and the other countries that need the bailouts because they can’t keep their financial houses … More It’s Lonely At The Top
On Thursday, Greece approved the bailout deal that was reached with European leaders over the weekend. This is the first step that could lead to Greece’s banks reopening and some sense of normalcy coming back to Greece’s economy. With the bailout deal approved, the European Central Bank is giving Greece an extra $900 million euros … More Agreement Reached-Tough Times Still Ahead
On July 7th, 2015 in The Nation, Thomas Piketty, Jeffrey Sachs, Heiner Flassbeck, Dani Rodrik, and Simon Wren-Lewis wrote an open letter to German Chancellor Angela Merkel urging her to cut Greece debt “to avoid further disaster”. I think that cutting Greece’s debt would be the wrong thing to do for several reasons. First of … More Debt Relief for Greece-A Bad Idea
European Union leaders have been meeting in Brussels in an attempt to reach an agreement in the Greek debt crisis. A satisfactory resolution was not reached by June 30th and the Greek government didn’t make a $1.6 billion euro payment on their debt to the International Monetary Fund. If the Greek government decides to not … More Is It Too Late in the Greek Debt Crisis?