Euro

ASSOCIATED PRESS

What You Need to Know About the Greek Debt Crisis

Wall Street melts down in 2008. Greece announces financial troubles and borrows €110 billion in 2010. It isn't enough, so a second bailout package brings the total loan to €246 billion by 2016. In early 2015, Alexis Tsipras of the radical left Syriza party is sworn in as the new prime minister with a plan to refuse any more loans. On June 28, the Greek government announces bank closures. Two days later, they miss an IMF payment and default on their debt.
AP

Should Canadians Be Worried About the Weak Loonie?

A weaker Canadian dollar poses a threat to imported inputs to Canada's production machine, and to future Canadian investments abroad. But the soaring U.S. dollar isn't the only currency in play. Movements in other currencies are less dramatic. Perhaps this is an opportunity to scan the globe both for inputs to our production process and for direct investment undertakings in less-traditional markets.
AP

Spain, Ireland, Italy and Greece: Which One Doesn't Belong?

If no longer -- thank goodness -- the geo-political cockpit of Europe (caught between rival ideologies in the civil war era), Spain cannot be dismissed as a periphery or marginal country out of step with the European project. Spain has all the features of a highly efficient and accountable country, from its ability to produce majority governments from both the respectable left and right, its elaborate system of federalism, and its increased multicultural identity.
Alamy

Of All the Languages in the EU, Nigel Farage Speaks That of Reason

A couple of days ago, a friend sent me a video of Nigel Farage speaking at the European Parliament. I hit "play" expecting the general "as polls show..." but before Farage was half-way through his speech, my sides were splitting. It was the greatest and most eloquent utterance on the topic of the EU I have heard from any British public figure since Sir Jimmy Goldsmith spoke at a conference in 1996.
CP

Slow Retail Growth Causes Loonie To Drop

TORONTO - The Canadian dollar moved lower Monday as commodity prices weakened and expectations for economic data due later this week remained soft.The loonie dropped 0.18 of a cent to 97.65 cents US.D...
AFP

Will a Soccer Match Decide Greece's EU Fate?

Greeks will watch the Euro 2012 soccer match between their country and Russia before going to the polls on June 17. If the Greeks lose, the country will vote to stay in the Eurozone. If they win, all bets are off. But, like football, forecasting is impossible (unless the games are rigged) which means that anything can happen. Here are three possible scenarios.
CP

Pro-Bailout Party Wins Greek Election

ATHENS, Greece - Fears of an imminent Greek exit from Europe's joint currency receded Sunday after the conservative New Democracy party came first in a critical election and pro-bailout parties won en...
WikiMedia: BotMultichillT

Amsterdam: Land of a Thousand Bicycles

Amsterdam is a city of almost 800,000 inhabitants, and 600,000 bicycles. They're everywhere. But as a North American traveling to Amsterdam, I was simultaneously impressed by their pedal power while surprised to discover that not one single cyclist owned an essential piece of biking equipment from our part of the world: the bike helmet.
alamy

Canada Joins the Debt Danger Zone

Canada is in the danger zone and as taxpayers sustain blows to their paycheques and portfolios and private-sector pensions, the governments in Canada (Alberta excepted) must tighten their belts and slash the pay and benefits of all of their public employees.
Getty

The Latest Plan to Control Euro Members

What's the newest strategy of the European Commission to remove any democratic accountability from the eurozone members? They are now aiming to consolidate all eurozone members on the IMF Executive Board into a single member, represented by... the European Commission.
PA

Save the Euro, Lose Sovereignity

The race to save the euro, and how it's being conducted, will not just affect bailed out countries' control over their budgets. It will also likely harm what remaining democratic character the Union has by allowing for influence over debtor states' votes in a way the treaties anticipate and forbid.
AP

Obama's G20 Troubles

The first day of the French G20 is a good indication the U.S. is losing its dominant role -- and even strong interest -- in the G20. By way of contrast, with the pivotal role that the U.S. enjoyed in...
AP

Let Greece Default

There is no rescuing Greece. If the country will not submit to regulations that people like Mark Carney would probably endorse, better that it not be propped up. Let it abandon the euro and revert to the drachma, until it comes to terms with itself.
AP

Europe's Choice: To Capitulate or Decapitate

The EU must decide whether or not to take the 'union' to its logical endgame. Creation of a single currency zone, without the strength of a centralized fiscal power to effect stabilization and redistribution, was never a sound economic idea. It was always a political idea.