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Euro Crisis News Overview
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The trouble is, a euro boom is the worst thing that could have happened to the continent.
Why? Because no one ever fixes the roof while the sun is shining — and the European roof is still in very bad shape. An upturn in the economy driven by printed money and a cheaper currency will merely convince peripheral governments that reform can be postponed, while persuading Brussels and Berlin that the architecture of the single currency is now in workable shape.
Nothing will change — and that will mean the next crisis will be even worse.

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The standard economic answer to Greece’s debt problems is to give that debt burden a haircut already. There’s nothing unusual or odd about this and it would be, in the absence of the existence of the euro, the standard IMF advice. If people simply cannot repay a debt then there’s no point in trying to make them repay it. Accept the obvious, have that haircut and move on. So, Tsipras isn’t being economically stupid, he’s not even economically wrong, to be calling for a reduction in that Greek debt burden. He’s, in fact, being entirely economically sensible. However, it’s also true that he’s not going to get a cut in that headline number of the debt burden. The reason being the manner in which it is currently being financed.

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The standard economic answer to Greece's debt problems is to give that debt burden a haircut already. There's nothing unusual or odd about this and it would be, in the absence of the existence of the euro, the standard IMF advice. If people simply cannot repay a debt then there's [...]
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The risk of Greece exiting the eurozone is rising sharply, and with it the risk of unintended consequences. That’s the assessment of Goldman Sachs strategists, who warned Tuesday in a note to clients that even if Greece can strike a deal with its creditors, “the damage to growth will be done.”
‘Grexit’ risk is exacerbated by a weak growth outlook for the country, combined with a real exchange rate which is too hard to sustain for the country, they said.

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The risk of Greece exiting the eurozone is rising sharply, and with it the risk of unintended consequences. according o Goldman Sachs strategists.
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[Analysis] The general view amongst commentators and analysts is that Greece needs an agreement with its creditors by mid-April to prevent a default.
The general view amongst commentators and analysts is that Greece needs an agreement with its creditors by mid-April to prevent a default.
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The only problem is that both the financial crash itself and now the Greek crisis have brought forward that Emperor’s new clothes moment. Europe just isn’t ready for fiscal union yet: and the German electorate will not wear it at all. Not yet. If the euro survives another couple of decades then it’s possible that people would accept that fiscal union. The crisis that was being banked on (yes, I really am this cynical about the plan’s architects) just came along too early for it to work.

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The Pacific Investment Management Company (Pimco) has said something both interesting and useful in its most recent research note. Which is that the eurozone really cannot continue on as it is: a monetary union without the associated fiscal union just isn't a stable arrangement. This is, of course, also why [...]
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Imbalances tend to arise in economic life. There is nothing wrong with them in principle as long as they disappear eventually.
But there is no sign of a benign route out of the eurozone’s internal imbalances. This is the issue the eurozone’s predominantly conservative economics establishment got wrong more than any other. They believed that the eurozone would adjust its way out of the crisis.

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We have hit a phase in eurozone crisis management where we often get bogged down in the specifics. Specifics matter, of course. It matters whether or not the Greek government can find the money to roll over its debt. It will matter what is on the
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MARTIN WOLF (FT): To avoid an 'greccident' Two options to keep Greece inside EZ: i) a further rescue programme ii) a substantial reduction of debt obligations to maneagable levels.
If no, Greece could leave EZ but still inside the UE. In that case, Greece out of EZ would need a substantial debt relief too.
Since the election of Greece’s Syriza-led government, negotiations over its place in Europe have gone terribly, with posturing on one side and annoyance on the other. An accidental exit from the eurozone has become quite likely. This is not because
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Greece's prime minister has vowed not capitulate to the country's eurozone creditors, reviving controversial calls for debt relief as his government battles to unlock bail-out cash.
Addressing his parliament on Monday evening, Alexis Tsipras said he would seek an “honest compromise” with Greece’s international paymasters, but warned he would not submit “unconditionally” to demands for further austerity on his stricken economy.

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Prime Minister vows not to capitulate to Europe's demands for further austerity after day of frustration in Brussels
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A Greek departure from the euro could expose the European Central Bank to losses on tens of billions of credit, a hole Germany and other euro members may have to fill.
As political wrangling with Athens freezes the country's access to loans from eurozone states, Greece has been drawing heavily on the ECB, running up an ever larger tab.

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A united Europe, governed by strict fiscal rules, harmonious and at peace with its neighbours: such is the stuff of German dreams. In reality, the world is a lot messier, and Germany is coming to terms with that http://econ.st/1IDoeVI
THE timing was certainly awkward. Talks between Greece and the euro zone were on a knife-edge. Beset by rumours that Greece was running out of money, Alexis Tsipras,...
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Since it was launched this month, the European Central Bank’s open-ended programme of €60bn a month in asset purchases has succeeded in dropping government borrowing costs to record lows. By weakening the euro, it has also boosted exports, sent equities soaring and raised hopes of a eurozone recovery.
But in so doing, it may also be masking the pain of a potential Greek exit from the euro — a prospect that once terrified financial markets and the country’s eurozone partners but no longer seems so frightening to them.

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Eurozone quantitative easing was launched to save the single currency bloc. But it may end up making it easier to break the eurozone apart. Since it was launched this month, the European Central Bank’s open-ended programme of €60bn a month in asset
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Greece submitted a long-awaited list of structural reforms to its creditors on Friday as its leftist-led government warned it would stop meeting debt obligations if negotiations failed and aid was not forthcoming.

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As the EU, ECB and IMF pore over Athens’s latest attempt to unlock financial aid, minister says country is prepared to go it alone ‘if things do not go well’
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News items from the worlds media about the current euro crisis
Introduction
This page contains a running list of news articles about the current crisis in the Euro zone.
These are mostly whatever I stumble upon...