greek debt crises Archive

The Mosler Plan for Greece

The Mosler Plan, as previously posted on this website, is now making the rounds in Europe as an alternative to the French Plan that is currently under serious consideration: Abstract The following is an outline for a proposed new Greek government bond issue to provide all required medium term euro funding for ...Read More

Hanke on Greece

Hate to criticize someone proposing a payroll tax holiday- darn that Lerner’s law! A Big Bang for Greece There is a way out of the debt trap for Athens. By Stece H. Hanke June 30 (WSJ) — How did Greece get into the death spiral that it’s in? Unfunded entitlements. In other ...Read More

Marshall’s latest

REPEAT AFTER ME: THE USA DOES NOT HAVE A ‘GREECE PROBLEM’ By Marshall Auerback To paraphrase Shakespeare, things are indeed rotten in the State of Denmark (and Germany, France, Italy, Greece, Spain, Portugal, and almost everywhere else in the euro zone). An entire continent appears determined to commit collective hara kiri (link), ...Read More

Moody’s likely to downgrade Greece and Brazil buying more $

Seems no one wants a strong currency anymore, but instead wants to keep their real wages down. So fears of a dollar crash seem again to be overblown. Nor is there any immediate risk of inflation from excess demand. The cost push risk from the Saudis hiking prices remains, and so price ...Read More

Greece is offered 30bn euros loan

Yes, this is the first ‘real’ offer, with a rate and a quantity. I heard it requires approval of all 16 member nations. This could initially stabilize the bond markets if/when approval is discounted, with short covering in the euro as well. The terms and conditions include IMF ‘austerity’ measures which will ...Read More

Text of Greek Deal

As before, this is in fact another statement that indicates no checks are to be written. The purpose is probably the hope that it be read as a statement of support which will facilitate continued funding of Greek debt. It is a clear statement that no funding is available until Greece fails ...Read More

yet more on greece

Gets stranger by the day: Broke? Buy a few warships, France tells Greece March 23 (Economic Times) — In a bizarre twist to the Greek debt crisis, France and Germany are pressing Greece to buy their gunboats and warplanes, even as they urge it to cut public spending and curb its deficit. ...Read More

Germany Considers Loan Guarantees for Greece, Other Euro Partners

[Skip to the end] Looks like another trial balloon. Might mean German CDS gets hit. All the national govs are subject to liquidity risk. Just like the US States Except the eurozone debt ratios are over 10 times worse. If the world economy is improving at a fast enough rate all they ...Read More

Eurobond Being Mulled Again Amid Fears Over Greece

[Skip to the end] Looks like it’s serious enough for this, thanks. And anything done at the national level serves to weaken the group as a whole. Eurobond Being Mulled Again Amid Fears Over Greece> 2009-12-15 15:40:15.949 GMT PARIS (MNI) – Eurozone leaders, reacting to worries about the situation in Greece and ...Read More