Posts Tagged ‘ EU ’

Greece: Bailout vote to test Syriza party rebellion

July 22, 2015
posted by

Reuters Reuters    

"Greece's leftist government urged disgruntled lawmakers on Wednesday to back reforms required for talks on a rescue deal to start, as Prime Minister Alexis Tsipras faced his second major test in parliament in a week. A first set of reforms that focused largely on tax hikes and budget discipline triggered a rebellion in his party last week and passed only thanks to votes from pro-EU opposition parties. The bill lawmakers will vote on late on Wednesday covers rules for dealing with failed banks and speeding up the justice system -- two more conditions set by the euro zone and IMF to open negotiations on a 86 billion euro rescue loan." (07/22/15)

http://tinyurl.com/qfsh8bo  

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Greece and the Eurozone: Holding tight to nurse for fear of something worse

July 16, 2015
posted by

Libertarian Alliance Libertarian Alliance
by Robert Henderson  

"The Greek referendum on the terms for a further financial bailout was potentially a clever move by Alexis Tsipras and Syriza. If the result of the referendum had been YES to the terms put forward to deal with the Greek debt, Tsipras and his government were off the hook for reneging on their election promises. If there was a NO to the conditions, Tsipras could play the democracy card and challenge the Eurozone to go against the democratic will of the Greek people or simply walk away from the mess and pass the poisoned chalice to his political opponents. Having asked for a rejection of the terms offered by the Eurozone in the referendum and got an emphatic 61% vote for rejection, Syriza could have called the Euro elite's bluff from a position of strength. Regrettably for Greece's hope of recovery they have not had the courage to do so." (07/16/15)

http://tinyurl.com/on7sr9b  

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Greece: Lawmakers pass austerity bill despite dissent

July 16, 2015
posted by

Altoona Mirror    

"Greek lawmakers voted overwhelmingly early Thursday to approve a harsh austerity bill demanded by bailout creditors, despite significant dissent from members of Prime Minister Alexis Tsipras' own left-wing party. The bill, which imposes sweeping tax hikes and spending cuts, fueled anger in the governing Syriza party and led to a revolt against Tsipras, who has insisted the deal forged after a marathon weekend eurozone summit was the best he could do to prevent Greece from catastrophically crashing out of the euro, Europe's joint currency." (07/16//15)

http://tinyurl.com/odg2orn  

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An “Austrian” economist’s advice for Greece and the EU

July 14, 2015
posted by

Richard M. Ebeling The Daily Bell
by Richard M Ebeling  

"Greece's and the European Union's economic and political crisis will not be resolved through a new debt deal between the government in Athens and the European authorities. It will be merely one more stop-gap 'solution' to a problem whose nature is endemic to the current ideology and politics of State-Power and collectivism. Its real solution requires something deeper and more comprehensive: a revival of the classical liberal ideal of individualism and the economics of free-market capitalism." (07/14/15)

http://tinyurl.com/opj7kyy  

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Acropolis now, again

July 14, 2015
posted by

The Cobden Centre
by Ben Davies  

"It goes without saying that you pick up any newspaper or journal of late and one is bombarded with how Grexit and contagion risk will undermine the European project. Founded in 1957 with the Treaty of Rome we have witnessed decades of bitter political disputes across Europe on the merits of membership to its Union, no more so than in Britain. In the next two years the British will have their say on whether they would like to remain or not in the Union. But perhaps the bigger question is the viability of the Euro and with it the EU, as it currently stands. Many economic commentators have argued the Euro should not exist as it's currently structured. We find it hard to disagree." (07/13/15)

http://www.cobdencentre.org/2015/07/acropolis-now-again/  

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What Germany and Greece tell us about the future of Europe

July 13, 2015
posted by

Libertarian Alliance Libertarian Alliance
by DJ Webb  

"Greece weakened its hand by refusing to countenance an exit from the eurozone. Only by threatening to leave the euro and repudiate its debts entirely -- thereby crystalling in excess of €300bn in losses elsewhere in the eurozone, plus untold billions in credit default swap liabilities (insurance against a Greek default sold as a financial instrument) -- could Greece negotiate from a position of strength. That would require a willingness to undergo initial pain in the transition to a national currency, before fully regaining national control over their economic affairs." (07/13/15)

http://tinyurl.com/p9nafc3  

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The Greek deceit

July 13, 2015
posted by

Liberty Unbound Liberty Unbound
by Wayland Hunter  

"It's remarkable to me, the degree to which reporting on the continuing Greek crisis is sympathetic to the Greek government, whose intention is to continue stiffing its creditors, and hostile to the 'hardline' states (such oppressors as Germany, Finland, Slovakia, and Slovenia), who want to obtain some assurances that if they increase their subsidies to spendthrift Greece, the Greek government won't continue to lie to them." (07/13/15)

http://libertyunbound.com/node/1435  

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Greece: Regime agrees to tax hikes, cuts in pension spending

July 10, 2015
posted by

Miami Herald    

"Greece's government has agreed to longstanding demands by creditors to impose sweeping sales tax hikes and cuts in state spending for pensions. In the text of proposals sent by Athens, and seen by The Associated Press, the government concedes to demands it had previously resisted, mostly on moving various categories of goods and services to higher sales tax rates. The proposals were sent in a last-ditch effort to reach a deal with rescue lenders after the country's [politicians'] previous program expired and missed repayments to the International Monetary Fund, and Greece was forced to close banks to prevent their collapse under the weight of mass withdrawals." (07/09/15)

http://tinyurl.com/oj2ay36  

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Greece: Regime submits “rescue deal” request

July 8, 2015
posted by

USA Today USA Today    

"Greece has submitted its request for a rescue deal in the first step toward getting a new bailout. Michel Reijns, spokesman for Jeroen Dijsselbloem, the president of the Eurogroup of finance ministers, said Greece submitted the request for a new support program from the European Stability Mechanism on Wednesday morning, the Associated Press reports. ... On Tuesday, European leaders told Greece to reach a new bailout agreement with its creditors by Sunday or face bankruptcy and expulsion from the euro currency system." (07/08/15)

http://tinyurl.com/ogk9uwu  

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EU bureaucrat: Greek voters “not legally correct” to tell us to go f–k ourselves

July 7, 2015
posted by

The Telegraph [UK]    

"Greece's referendum was not 'legally correct,' the European Commission has declared. Valdis Dombrovskis, the Latvian-born EU vice president responsible for the euro, said the vote had 'complicated' the work of the creditors and had left the Greek government in a weaker, not stronger, negotiating position. A write-down of Greece's [politicians'] €380 billion (£270 billion) debt mountain is now 'off the table,' he said." (07/06/15)

http://tinyurl.com/ordt7vu  

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The euro and Greek blackmail

July 1, 2015
posted by

Alberto Mingardi EconLog
by Alberto Mingardi  

"It might be worth remembering that, when Tsipras won elections a few months ago, the Greek situation certainly wasn't all happy -- but the IMF was estimating positive growth for this year. A few months of socialism and reckless blackmailing attempts by the European creditors have stripped Greece of any hope of returning to growth, however feebly, and have brought the country to the edge of disaster." (06/30/15)

http://econlog.econlib.org/archives/2015/06/the_euro_and_th.html  

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Let Greece leave the Eurozone

July 1, 2015
posted by

Ivan Eland Independent Institute
by Ivan Eland  

"The long and the short of it is that Greece's international creditors should end the bailouts and let the ungrateful and arrogant Greece default and exit the Euro currency. The major long-term ill-effect that this short-term disruption would generate would be on European pride in a common currency that should have never been concocted in the first place." (06/30/15)

http://www.independent.org/newsroom/article.asp?id=7434  

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Greece: Regime offers new proposals to avert default

June 23, 2015
posted by

Reuters Reuters    

"Greece took a step back from the abyss on Monday with the presentation of new budget proposals that euro zone leaders welcomed as a basis for a possible agreement in the coming days to unlock frozen aid and avert a looming default. European Council President Donald Tusk, who chaired an emergency summit of leaders of the 19-nation currency bloc, called the Greek proposals 'a positive step forward.' He said the aim was to have the Eurogroup finance ministers approve a cash-for-reform package on Wednesday evening and put it to euro zone leaders for final endorsement on Thursday morning." (06/22/15)

http://tinyurl.com/ob2t5h6  

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EU to extend Russia sanctions by six months

June 18, 2015
posted by

Sky News [Australia]    

"EU member states have agreed to extend damaging economic sanctions against Russia over the Ukraine crisis by another six months to the end of January 2016. The agreement by ambassadors from the 28 European Union nations meeting in Brussels will be formalised by foreign ministers from the bloc when they meet next week, officials said on Wednesday." (06/18/15)

http://tinyurl.com/psxdnx5  

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Euro falls amid Greek standoff, dollar up ahead of Fed

June 16, 2015
posted by

Reuters Reuters    

"The euro fell on Tuesday as it appeared more likely that debt-stricken Greece would default or have to leave the single currency, while the U.S. dollar rose at the start of a meeting by the Federal Reserve. Stocks mostly rose on the day, with shares in both Europe and the United States rebounding after a two-day decline, though the uncertainty surrounding Greece limited gains." (06/16/15)

http://tinyurl.com/o5u7p6t  

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European stocks slide as Greece talks collapse, banks tumble

June 15, 2015
posted by

CNBC    

"European equities fell sharply in early deals on Monday as talks between Greece and its creditors collapsed at the weekend, raising the prospect that Greece could default on its debt obligations. The pan-European FTSEurofirst 300 slipped 0.9 percent shortly after market open, with German and peripheral stocks tumbling around 1.5 percent." (06/15/15)

http://www.cnbc.com/id/102758186  

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Should we dump the euro?

May 26, 2015
posted by

Mises Canada
by Frank Hollenbeck  

"The Greek drama continues to unfold with the risk of a 'Grexit' becoming increasingly likely. Yet, a large majority of the Greek people want to keep the euro. This would force the Greek government to live within its means, which isn't a bad thing. With anti-austerity parties gaining strength continent wide, Greece may be the first, and not the last, to leave. Yet, the problem in Europe is not the euro, but excessive government regulations, spending, and taxation." (05/25/15)

https://mises.ca/posts/articles/should-we-dump-the-euro/  

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UK: Cameron sets immigration red line ahead of EU summit

May 21, 2015
posted by

Reuters Reuters    

"Prime Minister David Cameron said on Thursday restricting European Union migrant access to Britain's welfare system was a red line in his negotiations with the bloc, ahead of an EU summit he wants to use to launch informal talks on the issue. Cameron, re-elected on May 7, has pledged to reshape Britain's ties with the European Union before holding an in-out EU membership referendum by the end of 2017. ... Official data released hours before he spoke showed net annual migration hit a near record high of 318,000 in 2014, despite his pledges to cut it to less than 100,000, much of it from the EU and fueled by Britain's strong economy." (05/21/15)

http://tinyurl.com/l8338ap  

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British election strikes another blow against EU

May 17, 2015
posted by

Ryan McMaken Ludwig von Mises Institute
by Ryan McMaken  

"With the victory of the Conservatives in last week's British election, the future of both the European Union and the United Kingdom looks more doubtful. Newly re-elected Conservative Prime Minister David Cameron, in order to please anti-EU constituents who were essential to his re-election, promised a referendum on EU membership by 2017, although it could come sooner than that. At the same time, the promised referendum is again inflaming secessionist sentiment among Scottish nationalists and separatists who wish to remain a part of the EU." (05/16/15)

http://tinyurl.com/lm28u8j  

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Hungary: Orban wants to bring back pre-planned state killings, use immigrants as slave labor

April 29, 2015
posted by

The Guardian The Guardian [UK]    

"Hungary's nationalist rightwing leader, Viktor Orban, has threatened to reintroduce the death penalty, outlawed in the European Union. The prime minister also reinforced his reputation as the EU's main maverick with a powerful anti-immigration manifesto that equates migrants with terrorists, says immigrants are taking Hungarians' jobs, recommends internment camps for illegal immigrants and states they should be forced to work. ... Hungary abolished the death penalty -- after this was proscribed by the EU charter of fundamental rights -- following the collapse of communism in 1989. The EU executive in Brussels said on Wednesday that moves to reinstate the death penalty could incur curbs on Hungary's EU rights and entitlements." (04/29/15)

http://tinyurl.com/npb29w8  

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Competition, technocrat-style

April 29, 2015
posted by

Alberto Mingardi EconLog
by Alberto Mingardi  

"In an op-ed for the Financial Times, former EU Competition Commissioner Mario Monti took the opportunity of the antitrust probe into Google to characterize antitrust as 'a policy made in Brussels that works.' Putting aside any consideration of the Google case (see this excellent analysis by my colleague Massimiliano Trovato), the article is worth reading, because -- as always with Monti -- it epitomises the way in which the European elites think, starting with the astonishing statement that the European Commission is 'one of the world's most formidable defenders of free markets.'" (04/29/15)

http://econlog.econlib.org/archives/2015/04/competition_tec.html  

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EU referendum: The invisible revolution

April 27, 2015
posted by

Libertarian Alliance The Libertarian Alliance
by Richard North  

"The FUD continues unabated, as the Guardian reports that HSBC, Britain's biggest bank, has issued 'a stark warning about the economic risks of the UK pulling out of the European Union,' citing the economic uncertainty created by the risk of the UK going alone. This comes as the bank has revealed it was threatening to move its headquarters out of London to another country, a threat that has not impressed Mark Gilbert of Bloomberg. Writes Gilbert, there's a saying used to call the bluff of someone who threatens to flounce out of the room during an argument: 'Don't let the door hit your backside on the way out.' That sums up, he says, how the UK should react to the bank's threat to move its headquarters to a different country." (04/25/15)

http://tinyurl.com/q2a7jqk  

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Greece: Merkel, Tsipras agree to keep working debt deal

April 26, 2015
posted by

Reuters Reuters    

"Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a phone conversation on Sunday to maintain contact during talks between Athens and its lenders to reach a debt deal, a Greek government official said. ... Shut out of international markets and locked in talks with its European Union and International Monetary Fund creditors over its proposed reform-for-cash deal, Greece risks running out of cash within weeks." (04/25/15)

http://tinyurl.com/p5euemx  

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Google and the EU foreign policy

April 22, 2015
posted by

Alberto Mingardi EconLog
by Alberto Mingardi  

"There is much of politics in European competition policy. It is not by chance that some of its past major targets have been American corporations: GE, Microsoft, Intel, to whom we may now add Google. Somebody in Brussels may be convinced that competition policy is the only real foreign policy the EU really has. It is easy to compare the situation of Google today with that of Microsoft some ten years ago, when it got fined by then European Commissioner Mario Monti. (Crews has a nice point: it is nonsense to talk about a 'Competition Commissioner'). But Google's situation is much different than what used to be Microsoft's." (04/21/15)

http://econlog.econlib.org/archives/2015/04/google_and_the.html  

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It’s Google’s turn to be plundered

April 21, 2015
posted by

Jacob G Hornberger Future of Freedom Foundation
by Jacob G Hornberger  

"A couple of days ago, the New York Times profiled Margrethe Verstager, a former 'minister of the economy' in Denmark who is now serving as the European Union's 'commissioner of competition.' In her current position, she is going after Google in the hopes of seizing a potential sum of $6 billion from the company. Verstager is going after Google for supposedly violating the EU's antitrust laws. She claims, according to the Times, that Google has been suppressing competition by 'systematically favoring its own comparison shopping service over those of its rivals.' Oh, wow! Just think: favoring your own product over the product of competitors! Oh, my gosh! What a heinous crime!" (04/20/15)

http://fff.org/2015/04/20/googles-turn-plundered/  

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