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CP

Putting a Human Face on the Euro Crisis

Let's face it, either we have had resentment or a hint of jealousy toward southern Europeans for their relaxed lifestyle. To no surprise then, many Canadians have holier-than-thou attitudes about the euro crisis. Then, Elsa Fornero reminded me of what the euro crisis is really about: people.

Greece 2011: Argentina 2002 Redux?

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?

Nigel Farage: European Parliament's Attack Dog

To Nigel Farage, the "obsession" of EU members to create a European state means they are "happy to destroy democracy... who the hell do you think you people are? You are very, very dangerous people." Agree with Farage or not (I'm inclined to), he's refreshingly fearless and articulate.
AP

Greece Is Just the First to Fall

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.
AP File

A (Friendly) Memo to a Greek Protester

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.
AP

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

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.