Tag: grexit
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Where does the legal right to a 5y GREXIT exist?
The proposal by the German finance minister, and agreed to by others, that Greece take a five year break from the Eurozone is astounding. Its not so astounding that a man who has been musing on this for years has now tabled it. Schauble has as far back as 2012 been wanting this. What is…
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The Eurogroup gets Mythological on Greece
Greek myth, which is in case you missed it full of tragedies, is the cultural mine that keeps on yielding for the present crisis.
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Booms and Busts in Greek Analyses
The last week has seen a boom in one area of human endeavour, the utilisation of metaphors drawn from Greek myth to describe the present state of play in the Hellenic Republic. That Greece has been undergoing a slow motion tragedy, now accelerating, is undoubted by (almost) all commentators. A modern, developed, European, democratic country…
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In bad faith | Ashoka Mody at Bruegel.org
Pretty damning stuff. Those that smugly, glibly, heartlessly, self interestedly , and ignorantly witter and astroturf about Greece needing to do X Y and Z might want to read this. But then that might challenge the closeness of their minds. Below the concluding paragraphs.. We may not like the conclusion, but it is quite…
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Schäuble, a modern Procustes.
The Greek mess is one in which there is plenty of blame for all sides.
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Greece – GREXIT = Export Miracle …err, hang on…
So nobody knows what is going on in Greece. Tspiras seems willing, as he has done all along, to compromise. Meanwhile, Dr Schaubel, which is German for “hell, no”, seems to as willing to be as uncompromising as possible, in between lecturing the ECB If Greece does GREXIT, which is not certain, this will result…
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An Irish Solution to the Greek ELA problem?
In 2010 Anglo Irish Bank needed 30b in cash, to pay deposits and bonds. The Irish government hadnt got that on hand. In fact, it was out of any sort of then acceptable collateral. So, it wrote an IOU to Anglo, saying “we’re good for this”. They then took this to the Central Bank of…
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Exit from a Monetary Union Through Euroization:
Abstract: This paper studies the role of exit from a monetary union during a debt crisis. A monetary union, such as the European Monetary Union, needs to establish a procedure for exit as a tool to cope with debt default. The paper studies various forms of exit and argues that “Euroization” is both a…
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Implications of private debt for euro exit
Is there an easy way out? Private marketable debt and its implications for a Eurozone break-up David Amiel, Paul-Adrien Hyppolite 15 March 2015 As the Eurozone crisis lingers on, euro exit is now being debated in ‘core’ as well as ‘periphery’ countries. This column examines the potential costs of euro exit, using France as an…
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Grexit and Why It Will Not Happen: Catastrophic for Greece and Destabilizing for the Euro
Abstract: Severe cash constraints faced by the Greek Government due to a pretty demanding schedule of interest and amortization payments in the remainder of 2015 have lately engineered a new explosion of sovereign bond spreads and rekindled fears of a GRexit down the road. Such fears have been exacerbated further in late April 2015…