News
Daily Morning Newsbriefing
The Troika’s dictat to Greece: 150,000 job cuts, cuts in spending on defense and health, further pay cuts for civil servants and pensioners
This one will sting: the troika has presented its demands; Greek ministers expressed concern about the reaction of lawmakers; there has been some progress in the PSI+ talks, as Olli Rehn holds out the possibility of an increased participation of the public sector; Reuters says the ECB remains split on its position; for registered users only.
ECB involvement in Greece is on the table
Talks between Athens and its private creditors resume today, with pressure for a deal by the end of the week; Kathemerini says involvement of the ECB is now part of the negotiations, after the IMF has put on the pressure on the ECB; for registered users only.
Comment
The international monetary system needs the euro
It may seem strange to call for an increased international role of the euro. But the flaws of an international monetary system centered on the US dollar are substantial.
A German end to the Euro vision
"The Road to Nowhere" – Europe’s Debt Crisis
The eurozone’s savings mismatch
Analysis
The Americans, Baby
As the world focuses on the eurozone, this extensive analysis reminds us that the that the debt problem of the US government is at least as bad as that of the eurozone, and is likely to resurface very shortly.
