Bloomberg (July 24)
Extending Greek repayment terms to make the program achievable might cost 16 – 20 billion euros ($19 – $24 billion). “Whatever German Vice Chancellor Roesler may think, the risk of contagion from a Greek exit remains high, and the damage to Europe’s political project would be lasting. Compared with those costs, 20 billion euros is a bargain.”
Extending Greek repayment terms to make the program achievable might cost 16 – 20 billion euros ($19 – $24 billion). “Whatever German Vice Chancellor Roesler may think, the risk of contagion from a Greek exit remains high, and the damage to Europe’s political project would be lasting. Compared with those costs, 20 billion euros is a bargain.”
Forbes (June 27)
“The euro is going to survive despite all the crises and the growing punditry consensus that this experiment is doomed to fail. The currency will live on for political reasons—Germany and France want it to.”
“The euro is going to survive despite all the crises and the growing punditry consensus that this experiment is doomed to fail. The currency will live on for political reasons—Germany and France want it to.”
Washington Post (June 4)
“Can anyone doubt that the euro’s creation in 1999 was a huge blunder? It aimed to promote European prosperity and unity, but it’s doing just the opposite.” Rather than uniting Europe, “the euro now sows rancor” and “actually hinders economic revival.”
Tags: 1999, Blunder, Economic revival, euro, Prosperity, Unity
The Independent (May 31)
A day of stunning developments in the European debt crisis is summed up simply. “Spaniards are moving money out of their nation’s banks faster than at any point since records began, as Fitch downgrades eight regions and ECB President Mario Draghi warns Europe’s leaders must clarify their vision for the euro.”A day of stunning developments in the European debt crisis is summed up as “Spaniards are moving money out of their nation’s banks faster than at any point since records began, as Fitch downgrades eight regions and ECB President Mario Draghi warns Europe’s leaders must clarify their vision for the euro.”
The Guardian (May 14)
“Europe’s ruling elite is now openly talking about whether Greece might leave the euro, breaking a two and a half year taboo. German chancellor Angela Merkel and EU president José Manuel Barroso were among those saying that if Athens could not abide by the rules, Greece would have to leave.” But of what would ensue, no one is sure. It could lead to “collapsing banks, soaring inflation, but possible salvation.”
“Europe’s ruling elite is now openly talking about whether Greece might leave the euro, breaking a two and a half year taboo. German chancellor Angela Merkel and EU president José Manuel Barroso were among those saying that if Athens could not abide by the rules, Greece would have to leave.” But of what would ensue, no one is sure. It could lead to “collapsing banks, soaring inflation, but possible salvation.”
Boston Herald (May 13)Boston Herald (May 13)
“The failure of any party to form a new government following Greek national elections means the end of the euro currency there is almost a certainty. Thus dies the illusion that a common European currency would cure all ills…. Greece faces a grim future.” For Italy, Spain, Portugal and the rest of Europe “nothing is certain.”
“The failure of any party to form a new government following Greek national elections means the end of the euro currency there is almost a certainty. Thus dies the illusion that a common European currency would cure all ills…. Greece faces a grim future.” For Italy, Spain, Portugal and the rest of Europe “nothing is certain.”
The Independent (May 12)
“The Franco-German elite which rules the euro is still in denial about the failure of its core project,” but the “Euro’s day of reckoning looms.”
The Economist (May 12)
“Amid growing risk of a Greek exit, the euro zone has yet to face up to the task of saving the single currency itself…. The idea of a chaotic Greek departure from the euro at a time of Franco-German disunion should terrify everyone it touches…. Like some dreadful joke, the euro needs French reform, German extravagance and Italian political maturity.”
Washington Post (May 8)
“Nicolas Sarkozy is merely the latest leader felled by Europe’s economic crisis and the lassitude of its citizens. His flamboyant, hyperkinetic persona had grown jarringly dissonant with the grayness of the times and undermined his demands for belt-tightening and sacrifice by his countrymen.” France’s new president Francois Hollande will bring a change in tone. Blasé, rather than flamboyant, Hollande “has made clear that he will be less compliant than Sarkozy in the face of Germany’s demands.” Still, Hollande is more likely to bring “changes around the margins” than radical change, excepting his obvious change in demeanor.
“Nicolas Sarkozy is merely the latest leader felled by Europe’s economic crisis and the lassitude of its citizens. His flamboyant, hyperkinetic persona had grown jarringly dissonant with the grayness of the times and undermined his demands for belt-tightening and sacrifice by his countrymen.” France’s new president Francois Hollande will bring a change in tone. Blasé, rather than flamboyant, Hollande “has made clear that he will be less compliant than Sarkozy in the face of Germany’s demands.” Still, rather than radical change, Hollande is likely to bring “changes around the margins,” in addition to his more obvious changes in demeanor.
Bloomberg (May 7)
Greece’s election “raised the risk that the nation will exit the euro and prompted calls for policies to boost European economic growth.” The likelihood that Greece will quit the euro in the next 12-18 months has risen to 50%-75% according to Citigroup Inc. economists Guillaume Menuet and Juergen Michels.
Greece’s election “raised the risk that the nation will exit the euro and prompted calls for policies to boost European economic growth.” The likelihood that Greece will quit the euro in the next 12-18 months has risen to 50%-75% according to Citigroup Inc. economists Guillaume Menuet and Juergen Michels.
Tags: Ecoonomists, euro, Exit, Greece, Risk
