Saturday, February 24, 2018

Tag: Greece

Everyone in Europe Needs to Take a Deep, Calming Breath

We don't yet know how the president-elect will behave in office. Meanwhile, the present state of hysteria could make things worse. “The sky is falling!” exclaimed Chicken Little, in the well-known folk tale, after an acorn fell on the poor fowl’s head, leading to mass hysteria over an imminent apocalypse...

Global Trumpism: Why Trump’s Victory Was 30 Years in the Making and Why It...

Trump's victory was predictable, and was predicted, but not by looking at polls. Polling has taken a beating recently having failed to predict the victory of David Cameron's Conservative Party in the British general elections, then Brexit, and now the election of Donald Trump. One can argue about what’s...

Over the Line: Bulgaria Welcomes Refugees With Attack Dogs and Beatings

Abdul Bashir was resting when the police dogs came. He and 11 others were in the dense mountainous forest that joins Turkey and Bulgaria. They had just crossed to the Bulgarian side, for the second time in a month, stepping over the low-hanging wire that divides the two countries. The dogs came out of the woods behind them. Abdul Bashir saw one attack a man in his group, biting his shoulder and dragging him across the ground. The man was bleeding.
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Michael Hudson on Hillary Clinton and the US Elections

In this clip from our extended interview, Prof. Michael Hudson, economist and author of ‘Killing the Host – How Financial Parasites and Debt Destroy the Global Economy‘, speaks to Ross Ashcroft about the difficult choice faced by Americans in the upcoming US elections. If Hillary Clinton is more capable than...

Europe Wishes to Inform You That the Refugee Crisis Is Over

Greece - Skala Sikaminias is a little beach town on the northern coast of the Greek island of Lesbos. A year ago, rickety wooden boats and dinghies packed with Syrian refugees began plowing into the narrow stretch of beach next to the taverna in the town square. Within days, the flotilla had swelled to vast proportions; as many as 7,000 Syrian refugees were landing on Lesbos every day.

Euro house of cards to collapse, warns ECB prophet

The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned. "One day, the house of cards will collapse,” said Professor Otmar Issing, the ECB's first chief economist and a towering figure in...

Eurogroup ministers back further bailout loans for Greece

EU finance ministers to release €2.8bn after Athens government carried out required reforms relating to privatising state assets, tax and pensions. Greece is on track to receive €2.8bn (£2.5bn) from its eurozone creditors by the end of October, after an agreement on Monday on the latest instalment of its multibillion-euro...

Greece, Greek Cyprus, Israel look into East Med gas pipeline

Greece, Greek Cyprus and Israel said on Sept. 28 they would pursue ways of channeling east Mediterranean gas to Europe via a pipeline to Greece. With significant finds reported in the past decade, Israel and to a lesser extent Greek Cyprus are thought to be sitting on vast quantities of...

UN fears third leg of the global financial crisis – with prospect of epic...

The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history. It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal...

Russia Trumps USA Energy War in Mideast

In a fundamental sense the entirety of the five-year-long war over Syria, as well as the entire Arab Spring from Libya to Egypt to Iraq has been about control of hydrocarbon resources—oil and natural gas– and of potential hydrocarbon pipelines to the promising markets of the European Union. Dick...

Will Russia and Turkey Change the Energy Map of Europe?

The meeting between Russian President Vladimir Putin and Turkish President Recep Tayyip Erdoğan during the G20 Summit in Hangzhou has given fresh impetus to bilateral relations and joint projects. This primarily relates to the construction of the Turkish Stream pipeline, which may become one of the key elements of...

Prisoners of Europe: the everyday humiliation of refugees stuck in Greece

Europe's migration policies are turning the country into a giant holding pen, with the people trapped in it close to breaking point. At the Softex refugee camp in northern Greece, it is lighter by night than it is by day. Inside this windowless former warehouse, the lamps only work in...

How Ankara, Washington plan to achieve regional energy security

When US Vice President Joe Biden recently met with Turkish Prime Minister Binali Yildirim in Ankara, Turkey’s recent attempted coup, Fethullah Gulen and Syria were the main items discussed. However, in a press conference following the meeting with the prime minister, Biden highlighted two other points: The United States...

Soros Hack Reveals Plot Behind Europe’s Refugee Crisis; Media Manipulation; Cash For Social Justice

In the two days since the Soros Open Society Foundation hack by the DCLeaks collective, several notable revelations have emerged among the data dump of over 2,500 documents exposing the internal strategy of the organization, which expose some of Soros' tactics to influence and benefit from Europe's refugee crisis,...

The problem with Europe is the euro

In this extract from his new book, the Nobel prize-winning economist argues that if the euro is not radically rethought, Europe could be condemned to decades of broken dreams. Europe, the source of the Enlightenment, the birthplace of modern science, is in crisis. This part of the world, which hosted...

US energy envoy: North Stream 2 could resurrect cold war divisions

The controversial North Stream 2 gas pipeline project has the potential to resurrect cold war divisions in Europe, US Energy Envoy Amos Hochstein said, before calling for greater competition with Russia’s Gazprom through increased LNG imports. Amos Hochstein is US Special Envoy for International Energy Affairs. He spoke to EurActiv...

IMF admits disastrous love affair with the euro and apologises for the immolation of...

The International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory. This is the lacerating verdict of the IMF's...

The Immigration Crisis Is Tearing Europe Apart

Fear of terrorism, Muslims, and refugees is driving the parties of the right and left further apart than ever before. The recent lone-wolf terrorist attacks on the beachfront in Nice and on a train in Bavaria are likely to fuel existing anti-refugee, anti-Muslim fears in a Europe made uneasy by...

Why is the gold price rising? Five forces driving the precious metal

Hoarding gold is a centuries-old reaction to times of crisis, and the aftermath of the EU referendum vote is no different. The yellow metal has soared in value since Britain voted to leave the European Union as investors shoot towards traditional "safe haven" assets. Prices have reached a three-year high as Brexit worries intensify. An ounce of gold is now worth...

The Role of Sanctions in U.S.-Russian Relations

Sanctions are a critical tool in persuading Russia to change its Ukraine policy. But the West’s overreliance on them risks undercutting their long-term effectiveness. Sanctions have been a central element of U.S. Russia policy following Moscow’s annexation of Crimea and the beginning of the undeclared war in eastern Ukraine. They...

What’s really driving Turkish-Israeli reconciliation?

As expected, Ankara has begun to take sharp turns in its foreign policy. Following a statement by Prime Minister Binali Yildirim that Turkey will pursue a more realistic foreign policy to decrease enemies and increase friends, the first major turn has appeared in Israel-Turkey relations. Relations between the two countries were radically degraded after May 31,...

Frexit Is Coming

Britain's departure meant the end of an era. France's departure would mean the end of the EU. After Grexit and Brexit, the next crisis to confront the European Union will be Frexit. It will prove to be the worst of all. While dramatic, the Greek tragedy had a limited run....

The monetary bubble to end all bubbles is coming

Central banks continue to create new money through quantitative easing. But should they? That’s the question both Harvard economist Terry Burnham and economics correspondent Paul Solman explore in two separate pieces. Below, Terry Burnham warns against quantitative easing. You can read Paul’s take on the issue, “Why the Fed should...
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French Labor Law, Brexit, and Greek Austerity: Class War Against European Workers

Economist Richard Wolff says the old European elite believed it could fix their broken capitalism on the backs of the masses and that has proved to be a fatal mistake. Richard D. Wolff is a Professor of Economics Emeritus at the University of Massachusetts, Amherst, and currently a Visiting Professor...

The Roots of Brexit

In their quest for the Conservative leadership, two rival Eton schoolboys have managed to take the United Kingdom out of the European Union—the first by calling for a referendum in 2013 in order to consolidate his hold over the leadership, and the second by joining the leadership of the...

The Neoliberal Prison: Brexit Hysteria and the Liberal Mind

The enraged liberal reaction to the Brexit vote is in full flood. The anger is pathological – and helps to shed light on why a majority of Britons voted for leaving the European Union, just as earlier a majority of Labour party members voted for Jeremy Corbyn as leader. A...
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Alan Greenspan on Brexit, U.S. Economy, and Inflation

Former Federal Reserve Chairman Alan Greenspan discusses fallout the U.K.'s Brexit referendum, U.S. economic growth, wage and economic stagnation, central banks, low productivity, and his call for inflation in the U.S. economy. He speaks with Bloomberg's Michael McKee and Tom Keene on Bloomberg. U.K. policy makers miscalculated and made a...
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How Western Military Interventions Shaped the Brexit Vote

Michael Hudson argues that military interventions in the Middle East created refugee streams to Europe that were in turn used by the anti-immigrant right to stir up xenophobia. Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of The...

NATO Members’ Defense Spending, in Two Charts

The alliance’s easternmost members are ratcheting up their budgets as Russian threats loom. Five NATO members are expected to meet the alliance’s 2 percent target for defense spending in 2015, according to data released on Monday. Poland joins Britain, Estonia, Greece, and the United States as the only members of the...

Raoul Pal: The Brexit vote is about so much more than Britain leaving the...

Former global macro fund manager Raoul Pal says no matter how the Brexit vote goes it could have really bad unintended consequences for the rest of Europe. Closely-followed former global macro fund manager Raoul Pal says the United Kingdom's European Union referendum — no matter how the "Brexit" vote goes...

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