Neither side holds the upper hand in the strategic game of chicken which could still see Greece forced out of the euro By Ambrose Evans-Pritchard Greece's new currency designs are ready. The green 50 drachma note features Cornelius Castoriadis, the Marxisant philosopher and sworn enemy of privatisation. The Nobel poet Odysseus Elytis - voice of Eastward-looking Hellenism - honours the 200[...]
Tag: euro
The Economic Consequences Of Greece
Authored by Alberto Bagnai, Brigitte Granville, and Antoni Soy, originally posted at Project Syndicate, The first sentence of the 1957 Treaty of Rome – the founding document of what would eventually become the European Union – calls for “an ever-closer union among the peoples of Europe." Recently, however, that ideal has come under threat, undermined by its own political elite, which[...]
The Latest Country to Defy the Banksters – Will a Stampede Eventually Follow?
Resistance to Banker Rule Spreads As we’ve discussed before, the bankers have need of keeping the dream of Eurasia from becoming a reality. It is the thing which they pull out all the stops to prevent. Many countries in the recent past, especially those in the Middle East, or in Europe’e periphery, who’ve dared to assert their own interests, have been put down in the most gruesome ways.[...]
Legend Just Warned Greek Deal Has No Substance And The Crisis May Become Catastrophic Financial Ebola
From King World News Eric King: “After the news of this so-called deal with Greece was announced, I thought of one guy on the planet I could call to find out what this really means and that’s you, Art. You’ve been doing this for over half a century, you are a legend in the business and honestly, I don’t know who else I would call to get some clarity on this unless I went straight to the[...]
How Germany Is Blowing Up The European Union
As Germany is set to reject a Greek loan extension request (and no, international press, that is not the same as an extension of the bailout program), Steve Keen uses proprietary numbers issued by the OECD – which is supposed to be on Germany’s side?! – to show how dramatically austerity has failed in Europe- that is, if the recovery of the Greek and Spanish economies was ever the real[...]
ECB Risks Crippling Political Damage if Greece Forced to Default
If Greece defaulted, the German people would discover instantly that a large sum of money committed without their knowledge and without a vote in the Bundestag had vanished By Ambrose Evans-Pritchard The political detonating pin for Greek contagion in Europe is an obscure mechanism used by the eurozone's nexus of central banks to settle accounts. If Greece is forced out of the euro in[...]
Setting the Stage for the One World Currency – Martin Armstrong
By Martin Armstrong We can start to see how the one-world currency comes into play with BIG BANG. The more these governments try to manipulate the outcome of the free markets, the worse everything becomes. I met with members of the board in charge of the Swiss/Euro Peg just before the Berlin Conference. I explained that no peg has ever lasted and Bretton Woods stands as witness to that in recent [...]
Big Bang is Clearly in Play – Dominoes Starting to Fall in Debt Markets
by Martin Armstrong Armstrong Economics Just in case if you have not seen this, Big Bang is clearly in play. The dominoes are starting to fall! Obviously, bearish for the Euro broader-term, but will be interesting to see how the peripheral debt trades tomorrow. The ECB Press release emerged on a waiver of collateral regarding Greek Bonds. The Governing Council of the European Central Bank (ECB) [...]
History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro
by David Stockman • February 2, 2015 Now and again history reaches an inflection point. Statesman and mere politicians, as the case may be, find themselves confronted with fraught circumstances and stark choices. February 2015 is one such moment. For its part, Greece stands at a fork in the road. Syriza can move aggressively to recover Greece’s democratic sovereignty or it can desperately[...]
ECB’s Is NOT Stimulating Economy – Its a Bank Bailout
February 2, 2015 by Martin Armstrong See the story at Armstrong Economics[...]