Greece
Why, for Greece’s and Europe’s sake, the PSI ought to fail
, 17/01/2012
Headlines the world over ‘agonise’, on behalf of Greece and Europe, on whether the PSI+ negotiations will come to a conclusion. The presumption is that, if they succeed, Greece will be reprieved and Europe (with France and the EFSF having recently been downgraded) will buy some much needed extra time to put, at long last, […]
On Sky TV discussing the PSI+ negotiations, interviewed by Jeff Randall
, 17/01/2012
PSI talks to resume in Athens over the haircut imposed on banks by the EU in October 2011. Back then, Mrs Merkel and MR Sarkozy forced the hand of the IIF’s head, Mr Dallara, to accept the notion of a ‘voluntary’ 50% haircut on the face value of Greek government bonds (except those not owned […]
Greece’s PSI is Dead on Arrival: An error in search of a rationale but also a failure that may prove a harbinger for the Modest Proposal
, 11/01/2012
A brief history of Greece’s PSI In the beginning there was Wholesale Denial.
The race to lend Greece: A short story by Klaus Kastner
, 18/12/2011
In this remarkable short story, Klaus Kastner (Kleingut) offers a fictionalised account of how Europe’s banks channelled billions to their Greek counter parties. It makes for excellent cross reading with my recent take on the Ant and the Grasshopper fable. [Click here for Klaus’ original post.)
NEVER BAILED OUT: Europe's ants and grasshoppers revisited
, 15/12/2011
A new take on Aesop’s tale, tailor-made for our ‘European Moment in History’, at a time when Europe’s collapse is being guaranteed by the dominance of the wrong narrative. What follows is an attempt at an alternative take; one that is more in tune with a decent future for Europe.
No plan for either Europe or Greece: Guest post by Jerry Goldstein
, 13/12/2011
In the interests of fostering dialogue on the issues that matter, I welcome today’s blog entry from long time contributor (and regular critic of my scribblings) Jerry Goldstein. Jerry has a strong background in banking but, and this is highly pertinent, spends most of his time in Athens.
Of Debts and Denial: The Crisis in the context of the post-2008 world – Presentation at the LSE on Tuesday 6th December
, 02/12/2011
In London next Tuesday? Perhaps you may want to come along to this talk. I shall be using the occassion to make the basic claims that: The eurozone, in its original/present form, could never survive the shock of the Crash of 2008, Greece was just as much of a problem for the eurozone as Germany […]
The Serpent's Egg hatchlings in Greece's postmodern Great Depression
, 18/11/2011
A brief history of the racist/fascist/neonazi penetration of Greece’s new ‘technocratic’ government It will prove George Papandreou’s ugliest legacy: that his last-minute childish maneuvering to maximise his waning hold on power (while negotiating his eviction from the PM’s job), has brought into the new ‘national unity’ government four self-declared racists (some of whom are neo-Fascists […]
On the US, European and Greek Crisis: A double act with Rick Wolff at the Brecht Forum
, 17/11/2011
On 8th November 2011, Rick Wolff invited me to a double act at the Brecht Forum (downtown NYC). Our topic: Rick gave a brilliant wrap up of the recent developments on the US Crisis front. My brief was to start with Greece before discussing more broadly the European debacle. Afterwards Costas Panayotakis commented on my […]
Why is the euro at the end of its tether? When did the rot set in?
, 14/11/2011
Interviewed by Doug Henwood in New York. 11th November 2011. Click here.
On the Brussels' Agreement: Europe's Reverse Alchemy in full throttle
, 11/11/2011
The official unveiling of a systemic crisis One knows that there is something rotten in the world economy when the fate of a Greek PM makes headlines all over the world and for a whole week. Greece is not, and ought not to be, that important. But Italy is. And so is, from a global […]
The Euro, Greece, the World Economy: Part B, a debate with Colin Bradford and Mattias Matthijs. (Canadian Public TV)
, 09/11/2011
Here comes the second part of my hour long interview-debate on the Crisis. Not only did Steve Paikin prove an excellent, well read, internviewer but, to boot, I had the pleasure and honour of debating, in the program’s second part, with Colin Bradford (Brookings Institute and Project Leader of Brookings-CIGI Global Governance Reform Project) and Mattias […]
The Euro, Greece, the World Economy: Part A of an hour long interview on 'The Agenda' with Steve Paikin (Canadian Public TV)
, 09/11/2011
The Agenda with Steve Paikin, an in-depth current affairs program on Canadian public TV, kindly afforded me an hour long interview on all aspects of the Crisis (Greece, euro, global).
The Global Minotaur: Book launch at the University of Columbia, today – with Alan Beattie, Justin Fox and Mark Mazower
, 09/11/2011
An event-discussion on my new book will take place today at Columbia University under the title: The Global Minotaur: The Crash of 2008 and the Euro-Zone Crisis in Historical Perspective. The meeting has been organised by Professor Mark Mazower, Director of the Heyman Center at Columbia, who will chair the proceedings. Alongside him, I shall be [...]Discussing the Global-European-cum-Greek-cum-Global Crisis at the Brecht Forum, NY. Tonight at 19.30
, 08/11/2011
Tonight, I shall have the pleasure of being an invitee of Professor Rick Wolff. If you are in Manhattan, please join us. Rick (the author of Capitalism Hits the Fan: The global economic meltdown and what to do about it, Northampton, Mass.: Olive Branch Press, 2010) presents a monthly series at the Brecht Forum (see below for […]
The Modest Proposal in Toronto. Today, Monday 7th November, 16.00
, 07/11/2011
7th November, University of Toronto: Invited to speak on The Euro and the European Crisis by the Munk School of Global Affairs at Toronto University. The advertisement states: “As the eurozone crisis is unfolding, threatening in the process to infect the global economy, the debate currently raging in Europe (on how to tackle the cascading defaults and insolvencies) […]
From a Referendum not called to the reinforcement of a dangerous illusion
, 06/11/2011
After the Referendum Call turned out to be a cheap trick by the Greek PM, Papandreou promised to do a Jeanne D’ Arc (i.e. to sacrifice himself to save the nation) before trying to pull a Hosni Mubarak (i.e. “Allow me to remain in power in order to usher in the next regime”). With all […]
One for the road: Greek identity in the crisis' context
, 05/11/2011
While on this N. American lecture tour, postings will be lumpy. Though I am aching to comment on the Greek PM’s transition from Jeanne D’ Arc (sacrificing himself for the country) to Hosni Mubarak (“Let me hang on to power in order to usher in the Next Regime), I must rush to the airport to […]
Time to resign Mr Papandreou
, 02/11/2011
Last week, the European Union Council agreed on a set of policies for tackling the euro crisis. It was hoped that the new agreement (hereafter referred to as the October Agreement) would be a decisive step toward resolving a slow burning crisis that threatened to derail the euro, plunge the EU itself into a process [...]The Modest Proposal in Toronto. Today, Monday 7th November, 16.00
, 01/11/2011
7th November, University of Toronto: Invited to speak on The Euro and the European Crisis by the Munk School of Global Affairs at Toronto University. The advertisement states: “As the eurozone crisis is unfolding, threatening in the process to infect the global economy, the debate currently raging in Europe (on how to tackle the cascading defaults and insolvencies) […]
The Modest Proposal in N. America: First stop Austin, Texas
, 01/11/2011
For the next fortnight, posting will be intermittent and a little sparse. This is because I shall be on the road, on a lecture tour that will begin in Austin, move to Toronto and end up in New York. For details, see here. For now, I shall leave Greece safe in the thought that our […]
Europe's newest Orwellian moment: On ABC TV's Lateline discussing the latest plan to save the euro
, 28/10/2011
The ABC’s Lateline (Australia’s flagship news and current affairs evening tv program) afforded me the opportunity to delve into the details (or lack thereof) of the latest European effort to combat the euro crisis. For the transcript and video (kindly provided by the Australian Broadcasting Corporation)…
Another emblematic EU non-event: A first reaction to the latest EU 'agreement'
, 27/10/2011
With the din of the debate on what the new EU anti-Crisis ‘agreement’ means in our ears, and after a long night of anxious observation of our leaders’ deliberations, it is terribly easy to lose sight of the only truth about this new twist in the euro crisis saga: There has been no agreement to […]
Long radio interview on all aspects of the euro/Greek/global crisis: KVRX 91.7fm, Austin, Texas
, 23/10/2011
Click here to download the mp3.