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Archives for Greece

The Karlsruhe factor

As riot police today were forced to use tear gas against violent crowds in Athens protesting against further Greek spending cuts to narrow the country’s budget deficit (and save the eurozone), we recieved another reminder of German opposition to any cr…

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Setting a good example

Amid gloomy economic news about the state of Greece’s public finances and impending austerity measures, former MEP and Greek singing legend Nana Mouskouri has today said she will donate her pension from her time as an MEP (1994-1999) to the public coff…

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EMU holiday

Interesting article from Economics Professor and heavyweight Martin Feldstein in the Financial Times this morning – suggesting a temporary vacation from the single currency might be a plausible solution to the Greek debt crisis.It’s one we haven’t hear…

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Bang on the head

The EU’s finance ministers, and a handful of heads of state, are meeting today in another attempt to come up with answers to the ‘Greek question’. No details are expected to be announced, although an agreed declaration will give Greece a month to get d…

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the economic protectorate

So it has happened that the European Commission – aided by new powers in the Lisbon Treaty (article 121) – has effectively taken control over the Greek economy, demanding pay freezes, tax hikes and reforms of labour markets and the country’s healthcare…

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Another twist

Here’s another thought for the weekend.Apart from the legal obstacles (at least on paper) involved in giving emergency support to Greece – something we’ve touched on many times before – there may be a second legal hurdle that EU leaders have to clear …

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As Greece’s troubles continue (save yesterday’s temporary boost), the debate on whether the EU Treaties legally allow the EU to bail out one of its member states rages on. On his blog, the FT’s EU correspondent Tony Barber claims that the “EU possesses…

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You can never leave

A recent legal paper by the European Central Bank deals with the subject: “Withdrawal and Expulsion from the EU and EMU: Some reflections”. It has received quite a bit of attention. Unsurprising, perhaps, given the state of the Greek economy (see h…

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