Posts Tagged ‘ EU ’

Immigration, welfare and the EU

September 9, 2015
posted by

David Friedman Ideas
by David Friedman  

"Within the E.U., there is now free migration. That puts pressure on national welfare systems either to reduce the level of transfers or raise redistribution to the supranational level. That pressure was limited as long as all E.U. members were relatively wealthy countries, became greater with the admission of poorer members from eastern Europe. It is now greater still as the willingness of some European states to accept refugees and treat them generously, combined with conflicts that produce large numbers of actual refugees while making it difficult to distinguish them from voluntary migrants, is creating a flood tide of would-be residents on Europe's southern and eastern borders." (09/08/15)

http://tinyurl.com/oyj96wm  

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Hungary: Hundreds surge past police near border, march north

September 8, 2015
posted by

New York Times    

"Hundreds of angry and frustrated asylum-seekers broke through police lines Monday near Hungary's southern border with Serbia and began marching north toward Budapest, while Britain and France pledged to take in tens of thousands more refugees to try to ease the crisis. As European leaders debated how to share responsibility for the more than 340,000 people from the Middle East, Africa and Asia who are already seeking refuge, Germany promised to spend billions of euros in extra aid for those already there and those yet to arrive. France weighed whether increased airstrikes against Islamic State militants would help to stem the flow of those fleeing Syria." (09/07/15)

http://tinyurl.com/q6x3aqa  

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UK: Cameron suffers parliamentary defeat over EU referendum rules

September 8, 2015
posted by

Reuters    

"British Prime Minister David Cameron suffered an embarrassing defeat in parliament on Monday after Euroskeptic members of his Conservatives joined forces with opposition lawmakers to reject proposed rules for a European Union membership referendum. It was Cameron's first parliamentary defeat since he was re-elected in May with a slim majority and highlighted the historic splits over Europe in his Conservative Party that contributed to the downfall of two of his predecessors." (09/07/15)

http://tinyurl.com/o4ql6p7  

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Germany: Lawmakers overwhelmingly back Greek bailout, clearing path for loans

August 20, 2015
posted by

Los Angeles Times Los Angeles Times    

"German lawmakers overwhelmingly approved another bailout for debt-ridden Greece on Wednesday, removing the last major obstacle for Athens to receive an emergency infusion of funds to avoid an imminent default. The Greek government is now expected to receive an installment of loans just in time to repay a debt owed to the European Central Bank on Thursday. Missing that deadline would almost certainly result in Greece stumbling into a default and then a disastrous exit from the Eurozone, the group of 19 nations that share the euro currency." (08/19/15)

http://tinyurl.com/qf8fjl9  

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Four economic myths that perpetuate the euro crisis

August 10, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institue
by Patrick Barron  

"Too much of the commentary about the Greek crisis has focused on whether or not Greece should drop the euro and not enough on the structural problems arising out of decades of socialism. Meanwhile, the Greek government has borrowed more money than the Greek people can possibly repay, and debased money will not make this fact disappear. On the contrary, more easy money will cause even more harm." (08/10/15)

https://mises.org/library/four-economic-myths-perpetuate-euro-crisis  

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Open letter to Alexis Tsipras

August 2, 2015
posted by

The Cobden Centre
by Keith Weiner  

"The troika wants you to accept another bailout deal, to service Greek debts a while longer. Since bailouts mean borrowing more, you cannot avoid default in the end. Going deeper into debt is no good for anyone. Should you choose to default instead, you will not be able to continue using the euro. Even if the troika doesn't immediately act, the threat is real. No one would lend to the Greek government, or even businesses, with that Sword of Damocles hanging over you. However, you need outside capital to restart production and trade. Otherwise, your industries will be shuttered, even including exports." (07/31/15)

http://www.cobdencentre.org/2015/07/open-letter-to-alexis-tsipras/  

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The IMF experts flunk, again

July 30, 2015
posted by

Steve H. Hanke Cato Institute
by Steve H Hanke  

"My Globe Asia column in May was titled 'Greece: Down and Probably Out.' Well, it's out. Yes, Greece descended from drama to farce rapidly." (07/30/15)

http://www.cato.org/publications/commentary/imf-experts-flunk-again  

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Greece: Regime advances in loan talks, under fire for euro exit plan

July 29, 2015
posted by

Killeen Daily Herald    

"Greece pushed ahead with talks on a new rescue loan Tuesday, but its government came under increasing pressure over claims it had a top-secret plan to prepare for a euro exit that involved accessing citizens' personal tax data. Emissaries from Greece's international creditors held a second day of preparatory talks with Greek officials, ahead of higher-level negotiations later this week on the country's new multi-billion euro lifeline." (07/28/15)

http://tinyurl.com/pasexe6  

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Greece: Bailout vote to test Syriza party rebellion

July 22, 2015
posted by

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    

"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    

"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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