Articles About Greece

Author:
James I. Clark III
Posted:
07.09.2012

Back to the Drawing Board for Greece

International lenders and Greece will renegotiate the program on which the second financial bailout for Athens is based because the original has become outdated, according to a senior Eurozone official.  Greece received a €130-billion bailout in February from the European Union and the International Monetary Fund (IMF).  General elections in May and June delayed the […]

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Author:
Catalina Parada
Posted:
06.20.2012

Spain Asks the Eurozone for a Bank Bailout for up to 100 Billion Euro

Spain asked the Eurozone for a bailout of up to €100-billion to rescue its banks.  This is just a short-term fix for the troubled Eurozone because it doesn’t address the underlying problems in the monetary union.  The earlier bailouts of Greece, Ireland and Portugal didn’t resolve the problems either.  “The Spanish banking bailout is big […]

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Author:
Catalina Parada
Posted:

Spain Asks the Eurozone for a Bank Bailout

Spain asked the Eurozone for a bailout of up to €100-billion to rescue its banks.  This is just a short-term fix for the troubled Eurozone because it doesn’t address the underlying problems in the monetary union.  The earlier bailouts of Greece, Ireland and Portugal didn’t resolve the problems either.  “The Spanish banking bailout is big […]

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Author:
James I. Clark III
Posted:
06.14.2012

Is the Eurozone Sustainable?

Mario Draghi, president of the European Central Bank (ECB), has asked policymakers to focus their crisis support on solvent Eurozone banks.  “The ECB will continue lending to solvent banks and will keep the liquidity lines active and alive with solvent banks,” Draghi said. World stock markets have lost roughly $4 trillion as European turmoil proliferated […]

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Author:
James I. Clark III
Posted:
05.23.2012

Eurodammerung?

Despite Germany’s strong manufacturing output in March, it was not enough to compensate for a slump across the rest of the Eurozone with declining production, a signal that an expected recession may not be as mild as policymakers hope.  Industrial production in the 17 Eurozone countries declined 0.3 percent in March when compared with February, […]

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Author:
James I. Clark III
Posted:
04.23.2012

Is Greece Headed Towards a Third Bailout?

Lucas Papademos, Greece’s prime minister, said that his crisis-plagued country could require a third bailout just weeks after it secured a second round of rescue funds after much discussion in Brussels. Athens may have received the biggest bailout in history but another lifeline could not be ruled out, according to Papademos.  To date, the European […]

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Author:
James I. Clark III
Posted:
04.18.2012

Rising Unemployment Could Push Eurozone Into a Double-Dip Recession

Europe’s unemployment has soared to 10.8 percent, the highest rate in more than 14 years as companies from Spain to Italy eliminated jobs to weather the region’s crisis, according to the European Union’s (EU) statistics office.  That’s the highest since June 1997, before the Euro was introduced.  European companies are cutting costs and eliminating jobs […]

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Author:
Tom Silva
Posted:
02.06.2012

2012 Stock Market Off to a Promising Start

As the stock market moved between negative and positive territory on the last day of January, 2012, the Dow Jones Industrial Average was nevertheless poised to close with their biggest January gain in 15 years – despite closing down a few points for the day.  In fact, it could be the best January for Standard […]

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Author:
James I. Clark III
Posted:
01.23.2012

Fallout From European Credit Downgrades Still Underway

European leaders will this week try to deliver new fiscal rules and cut Greece’s onerous debt burden.  All this in the wake of Standard & Poor’s (S&P) Eurozone downgrades. France was not the only Eurozone nation to feel the pain. Austria was cut to AA+ from AAA; Cyprus to BB+ from BBB; Italy to BBB+ […]

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Author:
James I. Clark III
Posted:
11.29.2011

Italy Asks IMF to Oversee its Debt Reduction Efforts

Italy’s Prime Minister Silvio Berlusconi has asked for international oversight of his efforts to slash the eurozone’s second-largest debt, even as his unraveling coalition threatens efforts to build a wall against Europe’s debt crisis.  Berlusconi’s government asked the International Monetary Fund (IMF) to assess its debt-reduction progress, and turned down an offer of financial assistance. […]

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