Clip-clopping around Europe over the past few weeks, Yanis Varoufakis, Greece's dashing finance minister, has urged the euro zone to chart a new course. Endlessly forcing new loans upon indebted countries like Greece in the pretence that they will one day be repaid, he argued, was a strategy for depression and deflation.
Athens (AFP) - Greece votes Sunday in a snap general election that could bring the radical left Syriza party to power and pose the most severe challenge yet to austerity policies in struggling eurozone countries.
Perhaps the most curious aspect of this, third, Greece ""exit crisis, is just how completely unnoticed it has gone by the capital "markets", or rather non-Greek capital markets. Which, considering the changed dynamics of the negotiations, was to be expected.
I have read countless articles over the past few week stating a belief that Syriza party leader Alexis Tsipras is bluffing in his threat to stay in the euro but default in debts.
Is it remotely possible to default and stay in the eurozone?
Since this is a multi-part question, let's first address the question "is this a bluff?"
Once again the stock market is cheering something that is supposed to happen in the future, much like the monstrous month long EFSF bailout rally, with terms sill not set. Remarkably, three billion euros of EFSF bonds have been sold on unknown terms.
VIENNA (Reuters) - Eurogroup head Jean-Claude Juncker warned Greeks not to turn their backs on the euro, saying in a newspaper interview that a win by anti-bailout radical leftists in a vote on Sunday would have "unforeseeable" consequences for the monetary union. The radical leftist SYRIZA party is racing neck-and-neck with the conservative New Democracy party ahead of the election, which could decide if Greece stays in the euro zone and spread turmoil across global financial markets. SYRIZA leader Alexis Tsipras is threatening to tear up the punishing terms of the 130 billion euro ($164. ...