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Wall Street Journal (May 3)

2017/ 05/ 04 by jd in Global News

“In a year filled with European elections, no one wants another debt crisis—even if this requires pretending that Greek politicians will implement pro-growth reforms they’ve repeatedly shunned.” To reach a tentative agreement, “Athens has agreed to make certain reforms in exchange for an approximately €7 billion disbursement from a 2015 bailout package so Greece can meet July debt repayments.” Once again, the can is kicked a little further down the road. “The one certainty is that Greece and its creditors will be back at the same stand a year from now.”

 

Financial Times (February 13)

2017/ 02/ 13 by jd in Global News

“Greece is as sick as ever and its agony goes on and on….  Barring wholly improbable changes in the politics of European crisis management, Greece will earn the unwanted distinction by late 2019 of having spent more of its eurozone existence in an intensive care unit than outside.”

 

New York Times (May 30)

2016/ 05/ 30 by jd in Global News

Though European leaders are congratulating themselves for the latest debt agreement for Greece, “there is little to celebrate. Greece is bankrupt in all but name…. The reality is that Greece can’t be squeezed any harder.” The latest agreement is more of the same. “This crisis will never end if European leaders keep pushing policies that have repeatedly failed.”

 

The Economist (November 14)

2015/ 11/ 15 by jd in Global News

The Great Recession has morphed into the never ending crisis. Over the past decade, we’ve seen fallout from the U.S. housing crisis, the Euro crisis brought on by Greece, and now “a third instalment in the chronicles of debt is now unfolding. This time the setting is emerging markets. Investors have already dumped assets in the developing world, but the full agony of the slowdown still lies ahead.”

 

Institutional Investor (August 10)

2015/ 08/ 12 by jd in Global News

Greece’s ongoing problem “seems to have been kicked down the road yet again—as ever, the question is, For how long?…. Early elections could quickly bring the issue back into market focus.”

 

New York Times (July 26)

2015/ 07/ 27 by jd in Global News

“While the eurozone may have temporarily avoided a Greek exit, it is hard to see how a deal that requires more spending cuts, higher taxes and only vague promises of debt relief can restore the crippled economy enough to keep Greece in the currency union.”

 

Bloomberg (July 15)

2015/ 07/ 16 by jd in Global News

“By this point you can probably agree that it was a mistake for Greece to join the European common currency in 2001…. So why exactly are Greece and its European creditors still trying against all odds and good sense to keep the country in the euro?”

 

New York Times (July 14)

2015/ 07/ 14 by jd in Global News

The EU’s tentative deal “may avert an immediate catastrophe, but there is little to celebrate since it will do little to address, much less repair, the slow-moving disaster of the Greek economy.” For that matter, “in forcing Greece to submit they have not resolved the crisis of the monetary union or advanced the European project.”

 

Chicago Tribune (July 11)

2015/ 07/ 11 by jd in Global News

“By voting no in last Sunday’s referendum, and by such an impressive margin, Greece won itself a moment’s elation — and may come to regret the consequences for years. It was one more in an absurdly extended series of miscalculations.”

 

New York Times (July 8)

2015/ 07/ 08 by jd in Global News

The euro has “stopped being a force for unity. In many ways, it…” has become… “a weapon that each side seized upon to advance its cause.”

 

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