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Europe's creditors play with 'political fire' in pushing Greece to the brink

Mr Merritt said the Syriza revolt has exposed the political failure of EMU crisis strategy with refreshing clarity. “People in Brussels are losing patience with Germany. He and Mr Tsipras think much of EMU crisis machinery is a Potemkin façade. By ejecting Greece – he argues - Chancellor Angela Merkel gains “political cover” to relax austerity and reward those countries that play by the rules. Troika are a "rottenly constructured commitee" The creditors are treating the unfolding drama as if it were a local Balkan affair. In Frankfurt, [...] Read more ...

via Telegraph
31 Jan 2015

Greece Will Repay ECB, IMF, Reach Deal With EU, Tsipras Says

Greece may soon be operating without a financial safety netfor the first time in five years after Tsipras said he won’trespect the conditions of the country’s 240 billion-euro ($271billion) rescue. (Bloomberg) -- Greek Prime Minister Alexis Tsipras soughtto repair relations with creditors after a week-long selloff in bonds and stocks, triggered [...] Read more ...

via Bloomberg
31 Jan 2015

The ECB and Its Critics

The European Central Bank’s decision to embark on quantitative easing has triggered an avalanche of indictments, largely reflecting northern European (and especially German) concerns. Though the main charges against QE are unfounded, they must be confronted head-on, lest they undermine the ECB’s credibility and effectiveness. Read more ...

via Project-syndicate
31 Jan 2015

A Greek Burial for German Austerity

Even before the leftist Syriza party’s overwhelming victory in Greece’s recent general election, it was obvious that, far from being over, the crisis was threatening to worsen. And it does not take a prophet to predict that the Greek election result will leave the European Union's German-backed austerity policy in tatters. Read more ...

via Project-syndicate
31 Jan 2015

The role of demography in explaining secular stagnation

For the life expectancy we use total life expectancy at birth.Sources: Life expectancy and the supply of savings Over the last 40 years, there has been considerable increase in life expectancy. For the average retirement rate, we use the minimum of the OECD data male average effective age and official age of retirement. The increase in life expecta [...] Read more ...

via Voxeu
31 Jan 2015

Podemos rallies Spaniards with anti-austerity message

Among the few concrete policies Podemos has announced is a proposed audit of the national debt, similar to Syriza's own plans. Syriza's election victory is seen as a boost to Podemos, and on Saturday Greek flags were visible among supporters of the Spanish party. Soaring support Founded by a group of academics just a year ago, Podemos has transform [...] Read more ...

via Dw
31 Jan 2015