Jump to Navigation
Home

Main menu

  • Home
  • News
  • Markets Map
  • Sentiments
  • Topics
  • Data
  • Comments
  • Images
  • Blog
  • About

Secondary menu

  • Latest News
  • Top Rated
  • Most Popular
  • Archive
  • Discussions
  • Best Buy reports US sales drop
  • Yahoo's Mayer Says Tumblr Could Get Its Own Ad...
  • Jamie Dimon Wins! [Report]
  • CCI to seek more info from CAG on spectrum auctions
  • Bwin.Party Digital Entertainment's CEO Discusses Q1...
  • Vote Nears at J.P. Morgan
  • JPMorgan Appears to Avert Split in CEO/Chair Roles
  • Barcelona Is Ditching Its Ugly Creamsicle Jersey Next Year
  • Sprint Gets SoftBank Waiver to Consider Dish Offer
  • SkyWest picks Embraer over Bombardier for new jet order

    Greek euro exit would be a recipe for hardship

    Fri, 05/25/2012 - 20:12 EDT - AP

    ATHENS, Greece (AP) -- As Greece creaks under its untenable debt and a shrinking economy, the possibility that it could stop using the euro is becoming increasingly likely. The effects of such a move would be as quick as they would be brutal for ordinary Greeks, who would essentially take a 50-percent pay cut just as prices soar....

    • Original article
    • Login or register to post comments
     

    Related

    • Greek euro exit would be a recipe for hardship

      As Greece creaks under its untenable debt and a shrinking economy, the possibility that it could stop using the euro is becoming increasingly likely. The effects of such a move would be as quick as they would be brutal for ordinary Greeks, who would essentially take a 50-percent pay cut just as prices soar.

    • 150,000 Greek Public Sector Job Cuts Pending As Greece Launches Another Grexit "Plan B" Movement

      The eye of the hurricane over Southeast Europe may soon be shifting, exposing Greece to the same 150 mph gale turmoil everyone has grown to love and expect over the past three years as soon as this month, when a new proposal by Greece is due on how to cut a massive 150,000 public sector jobs: a move which will result in an immediate surge in public unrest, and an exponential jump in strike activity. As Bloomberg reports, "Greece is locked in talks with international creditors in Athens about shrinking the government workforce by enough to keep bailout payments flowing.

    • Five European Central Bankers Discuss Greek Eurozone Exit; Lies and Half-Truths from German Finance Minister; Message to Greek Politicians "No New Concessions"

      A small dose of reality has set in for a group of European central bankers: Euro Officials Begin to Weigh Greek Exit as Euro Weakens. Greece’s possible exit from the euro moved to the center of Europe’s financial-crisis debate, rattling markets as authorities in Athens struggled to form a government.

    • German Vice Chancellor "Very Skeptical" Greece Can Be Rescued, Euro Exit has "Lost its Terror"; Will Defeat Be Snatched From the Jaws of Victory Once Again?

      At long last, everyone is willing to wave the white flag on a Greece exit from the eurozone. Please consider German Vice Chancellor ‘Very Skeptical’ Greece Can Be Rescued. German Vice Chancellor Philipp Roesler said he’s “very skeptical” that European leaders will be able to rescue Greece and the prospect of the country’s exit from the euro had “lost its terror.”

    • Poll Shows 78% in Germany, 65% percent in France, 51% in Spain, 49% in Italy Want Greece to Exit Euro; Greek PM, Finance Minister Will Miss Summit Due to Illness; Permanent Nausea

      Reuters reports Greek PM, Finance Minister Will Miss Summit Due to Illness. Illness means both Greece's new prime minister and finance minister will miss an anxiously awaited summit of European leaders later this week and delayed a visit by the country's international lenders.

    • Greeks Rail Against "Crude" German Editorial; Merkel Ally Tells Greece "Vote right or Euro's Gone"; Initial Estimates 2:30 ET Sunday

      In the past week, as I expected, the ECB, Troika, German officials and others have all warned Greeks to not vote for Alexis Tsipras and his radical-left party Syriza. The question is will it backfire. I suggest it already has. The pertinent question is whether it backfire enough to matter. Please consider Greeks rail against 'crude' German editorial.

    • Greek debt crisis 'far from over'

    • Firebombs, Teargas, Riots Near Greek Parliament; 57% Say Greece Should Abandon Pledges Made to Troika

      Once again things are out of control in Greece. A general strike is underway, and schools, hospitals, and transit are affected. Firebombs and teargas have hit Athens as Greek citizens are protest the latest round of austerity measures.

    • BoG: Greeks would lose half income with euro exit

    • Harsh Language from Lagarde: "IMF Has No Intention of Softening Terms"; From Head of Deutsche Bank: "Greece is a Failed Corrupt State"; Purposely Inflammatory Statements to Force Greece Exit

      Strong messages from the head or the IMF, the head of Deutsche Bank, and the president of the Bundesbank are highly likely to drive Greek voters away from New Democracy and Pasok in the June 17 elections. The Guardian writes It's payback time: don't expect sympathy – Lagarde to Greeks.

    Latest

    Jamie Dimon Wins! [Report]
    Jamie Dimon Wins! [Report]
    MOBILE INSIGHTS: The Mobile Payment Wars Heat Up Again
    Yahoo's Mayer Says Tumblr Could Get Its Own...

    User login

    • Create new account
    • Request new password
    • Click on the icon to sign in with your social network login or enter your Bullfax.com login

    Our Blog

    • Did Iceland make it through the crisis?
    • Marks & Spenser, Bank Loans in China, Vodafone and Asian Stocks in Our News for Today 05/21/2013
    • Actavis to acquire Warner Chilcott in $5bn pharmaceutical deal

    Markets Map

    Markets Map

    Follow Us

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS
    S&P 500: 1667.66 0.08% FTSE: 6769.52 0.21% Nikk.: 15381.02 0.13% DAX: 8453.45 -0.03% HSI: 23366.369 -0.54% FX: EUR/GBP: 1.1764 USD/EUR: 1.2866 JPY/USD: 102.7705 Commodities: Gold: 1368.10

    Bullfax.com - Market News & Analysis 2008-2011
    Contact Us | About Us | Terms & Conditions

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS .

    Secondary menu

    • Latest News
    • Top Rated
    • Most Popular
    • Archive
    • Discussions