Sovereign Debt – Page 2

News

Germany Threatens to Cut Greece Off

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 […]

News

Greek Political Crisis Emerges as Leftist Coalition Syriza’s Leader Alexis Tsipras Vows to Reject Austerity

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 […]

News

The Return of Peronism in Argentina: Neo-Corporatism and Axel Kicillof

Limits on foreign currency exchange have led to the development of an underground market for dollars – such is the economic climate in Argentina today. Six months after tightening currency controls, it is not uncommon to find such ‘cash vendors’ in metropolitan areas like Buenos Aires, the capital, and, though illegal, it often is an […]

News

Argentina’s Shift Left: How President Cristina Fernández de Kirchner’s Flirtation with Socialism Hampers Prospects for Economic Growth

Argentina’s move to seize control of national oil giant YPF (Yacimientos Petroliferos Fiscales) has cheered domestic supporters of embattled Peronist President Cristina Fernández de Kirchner, but the move has angered Argentina’s trans-Atlantic friends in Spain. What began as a business issue has now become a full-blown diplomatic incident. The proposed nationalization of YPF follows Kirchner’s previous […]

News

President of Argentina Cristina Fernández Kirchner Nationalizes 51% of YPF, the Former State Oil Company

The move is widely considered an economic catastrophe for Argentina but the nationalization of former state oil enterprise YPF, a hallowed mark in Argentina, will not only address energy and cash shortages but may also shore up the president’s popularity. Yet, many find this most recent move by Cristina Fernández disturbing because, like Venezuelan President Hugo Chávez, […]

The Children Left Behind by the Greek Economic Crisis.

The nation of Greece is alarmed by increasingly common stories of families abandoning their children due to poverty that stems from the economic crisis gripping the Mediterranean state. The Greek economic crisis is putting an increasingly burdensome economic strain on low-income families. The Gasparinatos family put their children up for adoption after their lives had […]

United Kingdom’s Foreign Office Warns Embassies of Potential Riots in Case of Euro Zone Collapse.

While the euro zone teeters on the brink, Britain’s bureaucrats in the Foreign Office are telling their operatives abroad about how to handle potential civil unrest in the event of the collapse of the euro. All of this is based upon events in Greece which has seen incidents of civil disorder increase following the chaos […]

Euro Bonds Are Rejected by Germany as a Solution to the Euro Zone Financial Crisis.

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 […]

Bond Prices on the Rise in Europe as Fears of Contagion Spread Across the Euro Zone.

European Commission President Manuel Barroso says that the euro zone is facing a “systemic crisis,” while Prime Minister of Luxembourg Jean Claude Junker reiterated his call for the formation of euro bonds to save the continent from economic calamity. The interest rates on bonds rose dramatically in France, Belgium, Austria, Finland and the Netherlands, demonstrating lack […]

France’s Austerity Measures Strictest Since World War II.

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 […]