The Media Turn Against Schaeuble, but Too Late
This is significant. The hashtag #Thisisacoup is trending massively on Twitter, leading Hugo Dixon, a keen observer of the Greek crisis, to suggest that the Eurozone in general is losing the […]
Tag Archives: Eurozone
The Real Reason Varoufakis had to Go
Varoufakis was too clever to understand politics. It is three years ago that I had an exchange with him on his blog about needing credible threats if one wanted to play […]
How Will Merkel Square Her Circle?
Here is a quote from Ryszard Legutko, MEP from the conservative group ECR: So if this piece de theatre continues I think we will be more and more confused about […]
Time to get Angry with Tsipras
I am in utter disbelief: There was an emergency Eurogroup finance ministers meeting, and there will be a Eurogroup leaders meeting in an hour, and Greece turned up without a […]
A simple message to Europe: From Greece, With Love
Here is what Tsipras should say to Europe. No fancy victory lap rhetoric, just the facts: Greek voters have made their view clear. There is not even a single electoral […]
The IMF Says Vote No
The IMF has left the realms of delusion over Greek debt sustainability. It now has admitted that it failed to realise the damage austerity would do. In other words the deal which […]
Greece: Why is it so Important? (Part 2)
With Greece defaulting tomorrow, my post two weeks ago “Greece: Why is it so important?” seems more eerily prescient than I feared back then. I said the Greek government isn’t […]
Why Greeks should vote No
The game of chicken is over. There is no stepping back from the promise of a referendum, and if there is a future ‘deal’, it won’t be with the current […]
The Effects of Austerity: Ireland vs Greece
Before the next crunch-time comes for Grexit negotiations on Monday, let’s study why austerity hasn’t worked in Greece, and why Ireland, by contrast, didn’t seem to have suffered adverse consequences. The openness […]
Greece: Why is it so important?
It’s often been said in the last days that Greece represents less than 2% of the Eurozone’s GDP, so we shouldn’t spend so much energy on the whole Greek situation, […]
For Whom Tolls the Bell?
In an inversion of the closing of Tsipras’ op-ed in Le Monde, we might ask: Does the bell really toll for Europe, or just for Greece? The game of the […]
Varoufakis and Game Theory
Much has been made of the Greek Finance Minister’s credentials in game theory. Because I commute to Greece a lot, and because I’ve had some exchanges with Yanis Varoufakis on […]
EU legal opinion on the Financial Transaction Tax
My opinions on the EU-11 Financial Transactions tax have been reported extensively in this blog, in May, April, and February this year. The legal advisor to EU finance ministers — the “Council legal service” […]
A New Road-Map for Deposit Insurance
Chatting with one of Europe’s former central bankers recently, we discussed how Cyprus could have been handled differently, and what it all means for European banking integration and deposit insurance. […]
The Financial Transaction Tax and the Long Grass
In an old post, I speculated that the EU transaction tax (FTT) will quietly go away. I feel endorsed now that Mervin King hints that Europe would use delaying tactics to kick […]
Interesting Deal for Cyprus
A short update on the deal that was “struck” last night: It is constructive, for it has many desirable features: The disproportionate damage falls on those who took credit risk […]
The Final Minutes: Countdown in Cyprus
Before any news may break late today, hopefully on an agreement between the EU and Cyprus, I am, for the first time, starting to feel uncomfortable on how this may […]
A Crazy Thought (?) on Cyprus
I am not sure whether I’m going mad, but here is a thought I need to bounce off my readers, as I’m really not sure whether it’s madness or genius: […]
Hot or Not? Rumors of Cyprus’ next move
Apparently, the proposal being put together to be presented by the Cypriot president on Thursday (when most of you will be reading this), is that the depositor haircuts are a […]
Cyprus, Round Two
Commentary is wildly diverging over whether the Cypriot parliament’s rejection is a big deal or not. Surprisingly many articles predict something like Europe-wide bank runs, Russian Mafia killings, and what […]
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