Current News 

What to do about Greece... and everything else

Serious riots are continuing in Greece over the Eurozone financial crisis. Stratfor the global intelligence agency has produced a chart summarising the options and likely outcomes. And Woody Allen gives a view.

Woody Allen“More than any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness. The other, to total extinction.

Let us pray we have the wisdom to choose correctly.”
Woody Allen

Demonstrators have hurled stones and firebombs at police in front of the Greek parliament as tens of thousands rallied to mark the beginning of a two-day nationwide general strike to coincide with a vote on painful new austerity measures. Read on...

 Rioting in Greece 


Stratfor comments:

Whichever actions Germany takes, three things are all but inevitable: an Italian bailout, a European banking crisis, and a Greek default. Any one outcome will likely trigger the other two.

This may look like a "damned if I do, damned if I don't" type of situation, but how Berlin handles the crisis could be the difference between a weakened euro and nonexistent euro.

Various, 01/11/2011

Editor 13/09/2012 15:37
Greece will need a third bailout package from the euro zone, and the European creditors will have to find the money for it, according to a senior International Monetary Fund official.

"Greece will require additional financing, which may take the form either of Official Sector Involvement or of additional loans, hopefully on more favorable terms," Thanos Catsambas, an alternate executive director, who represents Greece at the IMF's board, said in an interview Thursday.

Mr. Catsambas is an IMF veteran with experience of fund programs in Europe, Asia, Latin America and the Middle East. In his current position, he has knowledge of the negotiations between Greece and its "troika" of creditors--the IMF, the EU and the European Central Bank.

Read on...

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