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WASHINGTON (AP) -- The International Monetary Fund says Greece needs debt relief and 50 billion euros ($70 billion) in new financing from October through 2018. The IMF said Thursday that Greece’s fina...
ATHENS, Greece (AP) — Greece is set to become the first developed nation to not pay its debts to the International Monetary Fund on time, as the country sinks deeper into a financial emergency that ha...
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.
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.
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?
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 Photo/Giorgos Nissiotis
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 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.
Do we understand exactly what has historically earned us top marks in the world's balanced scorecard -- and are we doing everything we can to maintain that wonderful distinction, primarily on behalf of those who will inherit this beautiful country from us?
BRATISLAVA, Slovakia - Slovakia's Parliament rejected a key euro bailout bill Tuesday, threatening Europe-wide efforts to ease a debt crisis that is threatening the global economy. The vote triggered...
TORONTO - The Toronto stock market closed lower but well off an early plunge Tuesday amid fresh hopes that European officials are moving to control damage from the European debt crisis.The S&P/TSX com...
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.
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.