Greece Debt

The Economics of Europe's Lost Generation

Bessma Momani | Posted 12.15.2012 | Canada Business
Bessma Momani

At the IMF and World Bank Group annual meetings in Tokyo, the European economic crisis was never off the agenda and often took centre stage in panel discussions. In the streets of Athens, Madrid, and in cities of other fiscal adjusting European states, there is a real belief that this new economic reality will result in a lost generation.

Austerity Measures Send Greece's Economy Spinning

CP | The Associated Press | Posted 04.15.2012 | Canada Business

ATHENS, Greece - The Greek economy remained stuck in a deep recession in the fourth quarter, according to official figures released Tuesday that confi...

Athens Burns As Eurozone Rejects Greece Bailout Deal

AP | Posted 02.10.2012 | Canada Business

ATHENS, Greece (AP) -- Thousands took to the streets of Athens as unions launched a two-day general strike against planned austerity measures on Frida...

The Biggest Story of 2011 for Me? Europe's Currency Crisis

Conrad Black | Posted 02.29.2012 | Canada Business
Conrad Black

The idea of a united Europe was always a fable of course, as some of us warned, and it was compounded by a policy of not hearing, seeing, or speaking any evil about the European ideal that was bound to lead to tears.

Greece 2011: Argentina 2002 Redux?

Andrew Cooper | Posted 02.13.2012 | Canada Business
Andrew Cooper

This comparison should give the Greeks some hope -- after all, Argentine 10-year government bonds today are comparable to other emerging market economies and investors flocked back to Argentina. What did Argentina do and what can Greece learn from its experience?

Greece Is Just the First to Fall

Peter Worthington | Posted 01.03.2012 | Canada Business
Peter Worthington

Let 'em go. Let 'em make their own way until they change their minds and rejoin the club and adhere to existing rules. If that means another recession, or even a depression, better now than at some time in the future when damage will be even greater.

What If Europe Had a Revolution and Called It a Debt Crisis?

David Frum | Posted 12.30.2011 | Canada Business
David Frum

What Europe must do to save the euro is very similar to what Alexander Hamilton did in the United States in the 1790s to create the dollar. But the new American super-government was elected. The new European supergovernment won't be.

Harper's 'Cautious Optimism' Over Eurozone Deal

CP | The Canadian Press | Posted 12.26.2011 | Canada

PERTH, Australia - Prime Minister Stephen Harper offered some rare praise on the economic front to the European Union while prodding the United States...

Let Greece Default

Peter Worthington | Posted 12.17.2011 | Canada Politics
Peter Worthington

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.

Lessons From Greece's Bankrupt Society

Andreas Souvaliotis | Posted 12.06.2011 | Canada
Andreas Souvaliotis

It wasn't just a domestic credit crisis that brought that country to its knees -- it was a much more serious case of social corruption and mistrust, an ailment so deeply entrenched in their national psyche that it could only be wiped out with the help of a deep and painful crisis.

Flaherty: Europe Must 'Overwhelm' Crisis With Bailout Fund

CP | Julian Beltrame, The Canadian Press | Posted 11.23.2011 | Canada Business

WASHINGTON - Canada is urgently calling on Europe to "overwhelm" their problems with a massive bailout of their big banks as a necessary first step to...

Moody's Downgrades 8 Greek Banks By 2 Notches

CP | Elena Becatoros, The Associated Press | Posted 11.22.2011 | Canada Business

ATHENS, Greece - Moody's downgraded eight Greek banks Friday, citing their exposure to their government's bonds and the deteriorating economic situati...

Default Looming, Greece Faces More Austerity

CP | The Associated Press | Posted 11.21.2011 | Canada Business

ATHENS, Greece - Greece will have to take fresh austerity measures, the debt-ridden country's finance minister said Wednesday, a day after Athens move...

Greece Pledges To Get Through 'Unprecedented' Recession

CP | The Associated Press | Posted 11.19.2011 | Canada Business

VOULIAGMENI, Greece - Greece's finance minister promised Monday to stick with his plan for the country to post a primary surplus in 2012 as the countr...

U.S. Presence At Eurozone Meeting Shows Reach Of Europe's Crisis

AP | Posted 11.16.2011 | Canada Business

WROCLAW, Poland (AP) - Finland's finance minister said she doesn't expect the eurozone to resolve a dispute over her country's demand for collateral f...

A (Friendly) Memo to a Greek Protester

Michel Kelly-Gagnon | Posted 10.02.2011 | Canada Business
Michel Kelly-Gagnon

The popular discontent of the last few months is certainly understandable. What is less understandable is what seems to be a widespread belief among Greeks that the citizens are neither responsible nor have any obligation to bear the consequences for their government's overspending.

Moody's Slashes Greek Debt Rating, Warns Default All But Certain

CP | Posted 09.23.2011 | Canada Politics

ATHENS, Greece - Moody's downgraded Greece's bond ratings by a further three notches Monday and warned that it is almost inevitable the country will be considered to be in default following last week's new bailout package.

The agency said the new EU package of measures implies "substantial" losses for private creditors. As a result, it cut its rating on Greece by three notches to Ca -- one above what it considers a default rating.

Relief As Europe Bails Out Greece, Again

The Canadian Press | Posted 09.21.2011 | Canada Business

THE CANADIAN PRESS -- BRUSSELS - Eurozone leaders agreed to a sweeping deal that will grant Greece a massive new bailout — but likely make it the fi...

Could A French Plan Put Greece Into Default?

CP | Posted 09.03.2011 | Canada Business

THE CANADIAN PRESS -- LONDON - A leading credit ratings agency warned Monday that Greece would be considered to be in default if banks rolled over the...

Greek Prime Minister Survives Crucial Vote

CBC | Posted 08.21.2011 | Canada

CBC -- The embattled government of Greek Prime Minister George Papandreou survived a crucial confidence vote Tuesday. Parliament approved the new c...