Tuesday, August 22, 2017

austerity

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Employment shrank considerably last month, as according to the Labor Ministry’s Ergani database, salaried jobs declined by 56,473 in October, with the balance between hirings and departures negative for the fourth month in succession.

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Molotov cocktails were thrown at police, who responded with tear gas in the Greek capital's central square as labor union members walked out for 24 hours.

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Left-wing Prime Minister Alexis Tsipras on Friday faces his first test in parliament since a bailout rebellion split his party and triggered a snap general election last month.

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Greek farmers are planning to take their tractors onto the roads in protest against tax increases that Greece has agreed to in exchange for a third bailout package from its lenders.

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Greek Prime Minister Alexis Tsipras surrendered to European demands for immediate action to qualify for up to 86 billion euros ($96 billion) of aid he needs to keep his country in the euro.

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Greece’s Prime Minister Alexis Tsipras is faced with the ultimate dilemma: accept German-advocated austerity measures opposed by hardliners in his own party or take his country out of the euro.

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The economic success of Portugal's EU sponsored austerity program in three charts and one picture.

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They say hope dies last. For Greek commenter Eva Tsiliakou, Greece may have been dragged to the bottom by EU austerity, but the BRICS Development bank may be the hope needed to lift the nation back up.

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“It is clear that the policy slippages and uncertainties of the last months have made the achievement of the 2012 targets impossible under any scenario,” one of six IMF leaked documents, titled the Preliminary Debt Sustainability Analysis for Greece, stated.

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Europe and Greece haven't been able to agree on what austerity the latter will do in return for money from the former. What is certain is that Europe is intent on destroying anything that is left of Greece.

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After 2010, the collapse of the Greek economy accelerated. The big question was whether this collapse was inevitable? Short answer, yes it was inevitable...but everyone involved preferred to kick the can just a little bit longer.

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Talks have once again ended between Greece and the Troika with no deal, as Athens continues to stand firm on their red lines of pension cuts and VAT increases.

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Communist Party supporters have occupied the finance ministry in Greece, warning the government not touch pension funds in a bid to pay back its EU/IMF lenders. Greece's creditors want Athens to commit to a deal of cash-for-reforms, which will essentially ...

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Greece will not agree to more austerity measures as the debt-ridden country negotiates a deal with its international creditors, Greek Finance Minister Yanis Varoufakis said Monday.

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The EU's stance on Greece has many people puzzled as to why the "family" of European nations would be so unwilling to help Greece avoid default...until we take a closer look at a clause buried deep in the memorandum which ...

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Since joining the Eurozone, Cyprus has been plagued with bank deposit raids, business closings and poverty not seen on the island since the Turkish invasion of 1974. This Easter saw a sharp rise in Cypriot families making trips to food ...

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Italy's Five Star Movement's Beppe Grillo gives his seven unfounded myths with regard an exit from the euro. The main takeaway for Italians...leave the Euro and things will sort themselves out for the better. Maybe Greeks should take Grillo's advice.

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Prime Minister Alexis Tsipras addressed the Greek Parliament on Monday to brief opposition parties on the government’s negotiations with creditors. The PM was defiant, accusing previous governments of leaving coffers empty and looting wage-earners and pensioners. ND and PASOK hit ...

By  587 Views
Even Greek Prime Minister Alexis Tsipras’s friends in Germany are getting exasperated with his government after a visit to Berlin fueled skepticism that he can do what’s needed to end the impasse over his country’s finances.

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Greek Finance Minister Yanis Varoufakis made Prospect Magazine's list of top World Thinkers for 2015.

By  559 Views
In 2010, a panel of Financial Times experts were asked to rank Europe's finance ministers. Greece's then finance minister George Papaconstantinou was found to have the best political skills among the 19 EU ministers and got an over 8th rank ...

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German Chancellor Angela Merkel and Prime Minister Alexis Tsipras struck a conciliatory tone after their first bilateral meeting in Berlin on Monday but the Merkel insisted that she is not in a position to ease Greece’s liquidity problems on her ...

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Greek Prime Minister Alexis Tsipras will send to EU leaders a new list of economic overhaul steps to receive more funds from the European Union, German Chancellor Angela Merkel said Friday.

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Greek Prime Minister Alexis Tsipras assured European Union creditors at late-night crisis talks in Brussels that his leftist-led coalition would present soon a full set of economic reforms in order to unlock cash to stave off bankruptcy.

By  557 Views
And their it is. The EU's nuclear option for Greece is now been placed on the table by the architect of the original Cyprus deposit haircut. The EU see's problems in the union as nails waiting for a hammer to ...

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