The Economist asks why Spain has not yet taken full advantage of the bond buying scheme announced by European Central Bank President Mario Draghi, a plan that was designed specifically to aid countries in Spain’s economic condition. Spanish Prime Minister Rajoy’s reluctance to admit Spain’s need for a bailout has complicated the ability of the [...]
Tag Archive | "European Central Bank"
Talks to Form Greek Coalition Government Collapse – New Elections Expected as Euro Zone in Turmoil
Posted on 15 May 2012.
Greek President Karolos Papoulias has announced that talks to form a coalition, technocratic government have failed and new elections are expected. Evangelos Venizelos, leader of the Panhellenic Socialist Movement (PASOK), has presided over three failed coalition talks and is now instrumental in forming a caretaker government to chaperone Greece into its next round of elections. [...]
Posted in Global EconomyComments (0)
Germany Threatens to Cut Greece Off
Posted on 09 May 2012.
Responding to Greek leftist coalition Syriza’s leader Alexis Tsipras’ vow to abandon the debt resettlement terms, German leaders vowed today to cut Greece off from any international monetary aid if they fail to support the debt renegotiation settlement terms. Struggling to form a government in the wake of the May 6 elections, Greece’s leadership has [...]
Posted in World PoliticsComments (1)
Greek Political Crisis Emerges as Leftist Coalition Syriza’s Leader Alexis Tsipras Vows to Reject Austerity
Posted on 08 May 2012.
The fate of Greece rests in the hands of a newly elected far-left leader, Alexis Tsipras, propelled to power on a platform that Greece could no longer support her international loan agreements. The anti-austerity, leftist coalition, Syriza, emerged surprisingly strong after this past weekend’s poll, winning 16.8% of the vote. News of Greek anti-austerity measures [...]
Posted in WorldComments (0)
Greek Rage at the Polls Results in Seats in the Parliament for Nationalist, Neo-Nazi Party the Golden Dawn
Posted on 06 May 2012.
The start of voting in an early general election in Greece has not gone well for proponents of the European idea: After two years of austerity and financial crisis, the Greek public is turning away from the traditional conservative New Democracy party and the socialist Pasok, the two poles of Greek political life for decades. [...]
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Euro Bonds Are Rejected by Germany as a Solution to the Euro Zone Financial Crisis.
Posted on 25 November 2011.
Germany’s Chancellor Angela Merkel has repeated her nation’s rejection of a common euro bond market as a solution to the financial crisis gripping the euro zone following a failed bond auction on the part of Germany to raise money for the joint effort to save the common market currency. The German focus has remained on [...]
Posted in Global EconomyComments (1)
The Goldman Sachs Conquest of Europe.
Posted on 19 November 2011.
The euro zone financial crisis has seen its share of historical events but none more telling than the recent ascension of Mario Monti to the Italian Prime Minister’s chair. With the removal of Berlusconi and the rise of a government of technocrats determined to right Italy’s financial ship of state, yet another European nation’s leadership [...]
Posted in Global EconomyComments (1)
European Pessimism and German Ambitions: Reasons for Worry?
Posted on 15 November 2011.
The recent financial crises spreading throughout debt heavy European sovereigns has called into question the viability of the common currency and the whole European project. In its initial stages, the European Coal and Steel Community was proposed by French foreign minister Robert Schuman on May 9, 1950 as a way to prevent future war from [...]
Posted in World PoliticsComments (1)
New Greek Prime Minister Papademos Has Difficult Task Ahead of Him.
Posted on 13 November 2011.
Recently named Greek Prime Minister Lucas Papademos is said to be working around the clock to avert Greek default on their sovereign debt obligations. Like recently minted Italian Prime Minister Mario Monti, Lucas Papademos is a technocrat, heading Greece’s first coalition government in recent memory. Necessary austerity legislation is still wildly unpopular with the Greek [...]
Posted in WorldComments (0)
France’s Austerity Measures Strictest Since World War II.
Posted on 10 November 2011.
To avoid the spread of contagion as well as deflect any potential fallout from the bubbling kettle that is the Italian economy, France has taken moves to pass austerity measures which are some of the most stringent the country has seen since the end of World War II. The new package includes cuts of 112 [...]
Posted in World PoliticsComments (1)
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