The Great Debate

from Hugo Dixon:

Greece still unlikely to leave euro zone after Syriza win

By Hugo Dixon
January 26, 2015

Supporters of opposition leader and head of radical leftist Syriza party Tsipras cheer at exit poll results in Athens

Supporters of opposition leader and head of radical leftist Syriza party Alexis Tsipras cheer at exit poll results in Athens, Jan. 25, 2015. REUTERS/Marko Djurica

Likely victors in Greek election may pull nation out of eurozone

By John Kallianiotis
January 23, 2015
Opposition leader and head of radical leftist Syriza party Tsipras waves at supporters during a campaign rally in central Athens

Opposition leader and head of radical leftist Syriza party Alexis Tsipras during a campaign rally in central Athens, January 22, 2015. REUTERS/Yannis Behrakis

Why regulation — on yogurt and more — is blocking Greece’s recovery

By Peter Gumbel
March 11, 2014

The news that Greek-style yogurt maker Chobani is looking to sell a minority stake that would value the company at around $2.5 billion should in theory be a big boost for Greece’s beleaguered dairy industry.

America’s long search for Mr. Right

By Elizabeth A. Cobbs
February 12, 2014

What’s wrong with central casting? It’s a virtual truism: The United States always seems to pick the wrong guy to star as George Washington in some faraway civil war. We sell him weapons for self-defense against his despicable foes — and then, sometimes before the end of the first battle, we find we are committed to a bad actor who bears an uncanny resemblance to Genghis Khan.

Greek bailout sham

By John Kallianiotis
July 29, 2013

Driven by its bailout loan terms, the Greek Parliament recently voted to lay off 25,000 more public employees. The public has responded with demonstrations while striking public sector workers try to disrupt air and rail travel, law enforcement and medical care.

from Nicholas Wapshott:

Austerity is a moral issue

By Nicholas Wapshott
May 17, 2013

Security worker opens the door of a government job center as people wait to enter in Marbella, Spain, December 2, 2011. REUTERS/Jon Nazca

The year ahead in the euro zone: Lower risks, same problems

By Nouriel Roubini
January 14, 2013

Financial conditions in the euro zone have significantly improved since the summer, when euro zone risks peaked because of German policymakers’ open consideration of a Greek exit, and the sovereign spreads of Italy and Spain reached new heights. The day before European Central Bank President Mario Draghi’s famous speech in London in which he announced that the ECB would do “whatever it takes” to save the euro, bond yields in Spain and Italy were at 7.75 percent and 6.75 percent, respectively, and rising. When the ECB announced its outright monetary transactions (OMT) bond-buying program, the euro zone was at risk of a collapse.

Decisive euro action is needed at the G20 summit

By Gordon Brown
June 15, 2012

The European crisis is no longer a European crisis. It is now everyone’s. Unless Monday’s G20 summit in Mexico coordinates a concerted global action plan right now, we face a global slowdown that will also have a deep impact on the U.S. presidential election and even on China’s transition to a new leadership. This is the last chance.

from MacroScope:

The Law of Diminishing Greeks

April 13, 2012

The Law of Diminishing Returns  states that a continuing push towards a given goal tends to  decline in effectiveness after a certain amount of effort has been expended. If this weren't the case, Usain Bolt would be able to run the mile in  less than 2-1/2 minutes.

A good deal for Greece, its creditors, and Europe

By Jeromin Zettelmeyer
March 1, 2012

Amid all the doom and gloom about Greece in the last few weeks, it is easy to overlook an important piece of good news: the debt exchange offer published by Greece on Friday with endorsement by its main private and official creditors. If implemented, this would be a major achievement and an important step toward overcoming the euro zone crisis, almost regardless of what happens next.