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Tag: Greece austerity

‘Austerity Has Won’: Greece Submits to Divisive Reforms

Posted by on July 13, 2015 in Government with 1 Comment
‘Austerity Has Won’: Greece Submits to Divisive Reforms

After 31 hours of tense weekend talks—and five years of crippling austerity—Greece and its foreign creditors have struck a deal: an €86 billion bailout that will keep Greece in the Eurozone in exchange for controversial economic reforms that include tax hikes, pension overhauls, and severe budget cuts if the nation misses fiscal targets imposed and monitored by the so-called Troika.

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Greek Financial Crisis Continues to Grow: Big Debate Over Bail Out or New Paradigm

Posted by on July 1, 2015 in Bankers & Wall St., Government with 0 Comments
Greek Financial Crisis Continues to Grow: Big Debate Over Bail Out or New Paradigm

All eyes are on Greece on Wednesday as the acceptance of a bailout agreement for the struggling nation may now once again be in the offing.

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How German and French Banks Helped Bankrupt Greece

Posted by on June 30, 2015 in Bankers & Wall St., Government with 0 Comments
How German and French Banks Helped Bankrupt Greece

Today Greece owes its creditors €323 billion ($366 billion), some 175 percent of the country’s gross domestic product. How did it end up owing so much money? “We should be clear: almost none of the huge amount of money loaned to Greece has actually gone there,” Joseph Stiglitz, former chief economist of the World Bank and a Nobel Prize winner in economics, wrote in the Guardian newspaper today. “It has gone to pay out private-sector creditors – including German and French banks.”

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The Debt Slavery Must End to Prevent Environmental Catastrophes: Will Greece Kick Start a Paradigm Shift?

Posted by on February 11, 2015 in Environment with 0 Comments
The Debt Slavery Must End to Prevent Environmental Catastrophes: Will Greece Kick Start a Paradigm Shift?

A well-known study on planetary boundaries from the Stockholm Resilience Centre, which aimed to delineate a safe operating space for human societies, has clearly pointed out that human economies have led human societies to cross several other critical environmental thresholds

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