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Why the West supports the yen’s devaluation and Japanese over-indebtedness
While the ministers of Finance of seven major industrialised countries making up the G7 council agreed pompously last weekend that monetary devaluations should not be used as a home economy...
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Europe rethinking its severe austerity policies
During the past few weeks there is a noticeable change of climate in Brussels towards a more relaxed attitude over economic policies. On Monday the President of Eurogroup and minister for Finance of...
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Why the ECB suddenly decided to flood banks with money?
It was not a coincidence that the Governing Council of the European Central Bank suddenly decided unanimously last week to further relax its monetary policy promising more and cheaper loans to all...
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Summer pause gives time to rethink Eurozone’s problems
The United States Secretary of the Treasury Jack Lew on his way back to Washington from the G20 meeting in Moscow made a stop-over in Athens on Monday to meet the Greek Prime Minister Antonis Samaras....
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How the Irish people were robbed by banks, the Commission and their own...
In 2007 Ireland’s sovereign debt was 25% of the country’s GDP. After the financial crisis – and €140 billion later – in 2012 it reached 120% of the GDP at €190bn. Yet the Dublin government this week...
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The fatal consequences of troika’s blind austerity policy
When the ‘troika’, made up by the European Commission, the European Central Bank and the International Monetary Fund was atypically formed first in spring of 2010 to bail out and audit Greece, its...
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Poor Greeks, Irish and Spaniards still pay for the faults of German and...
Government deficit decreased substantially in the third quarter of last year and reached -3.1% of the GDP in Eurozone. This is just one decimal point away from the 3% benchmark, set by the Treaty of...
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ECB’s €1.14 trillion again unifies Eurozone; Germany approves sovereign debt...
The long-awaited move of the European Central Bank finally came yesterday afternoon. Mario Draghi announced from ECB’s Press room in the Frankfurt tower that the Eurosystem, the central banking system...
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Greece’s Tsipras: Risking country and Eurozone or securing an extra argument...
The Greek Prime Minister Alexis Tsipras and his governing left wing SYRIZA party, cornered between its populist rhetoric for greener grass and the realities of the dragging on negotiations with the...
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Tsipras imposes more austerity on insolvent Greece; plans to win new early...
On 9 July this newspaper predicted that the Greek Prime Minister Alexis Tsipras was adamant about keeping his country in the Eurozone. In order to do this the Sting foresaw that he was prepared not...
View ArticleGermany hides its own banks’ problems
The insistence of the Brussels, Berlin and Paris authorities that Cyprus is a special case and the rest of the Eurozone banking system is safe, has only superficial value. Markets do not believe that....
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