government

In the wake of the decisive “No” referendum vote by the Greek electorate and related events, the negotiating landscape has shifted substantially. The negotiating position of the institutions now looks untenable. But this by no way changes…

At this point, default within the eurozone is the best case scenario for Greece. Grexit is still a distinct possibility. All potential best case scenarios are out the window. Below is my assessment on how we got here.

I know I keep saying that economics is not a morality play. But when it comes to Greece, I can find no other satisfactory explanation for what is going on. I've reminded everyone before about Irving Fisher's famous observation: "The more…

By Marc Chandler Through the venomous comments and erosion of trust, the broad framework of what couple prove to be a workable compromise over Greece's financial crisis may be emerging.   This is not to suggest that the eurozone finance…

The situation in Greece is not about Greece at all. It is about enforcing an economic framework onto all Eurozone countries. And because the policy goal is primarily about enforcing this economic framework everywhere in the eurozone, there…

Introducing a currency in parallel to the euro could help Greece repay its external debt and resume economic activity. This second column in a two-part series evaluates the different options and their effects on aggregate demand and fiscal…

To prevent it from defaulting on its debt, the Greek government might need to introduce a new domestic currency, in parallel to the euro. This column, the first in a two-part series, compares the current proposals for a parallel currency…

There is a legal concept called "odious debts." It can be traced back more than a century. The US helped create a precedent for it by denying Cuba's responsibility for the debt incurred under Spanish colonial rule. The concept took on…

Finnish society, like many other European ones, is in the throes of a major transition. More debate needs to be held on what to do to facilitate the transition, and in the meantime deficit spending to make investments in future productivity…

Although the euro is now headed up after it overshot to the downside, I believe the European recovery has legs and will continue indefinitely as long as a calamity in Greece doesn’t pull Europe down.