Nicholas Gikas

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Poland: We Won't Pay a Penny for Greece

After Greek Prime Minister Alexis Tsipras pushed controversial austerity measures through parliament last week, Athens received the first portion of …

Why the Greek Deal Will Work

Most economists and political commentators believe that the latest Greek bailout was little more than an analgesic. It will dull the pain for a …

Bailouts

Tsipras Appeal to Siege Mentality Secures Bailout Vote

Prime Minister Alexis Tsipras is evoking a siege mentality as he gets ready to negotiate a third Greek bailout before the end of August after …

Europe

Greece Approves EU Demands in Order to Keep the Euro

Greece passed a second bundle of policy measures demanded by the country’s European creditors as Prime Minister Alexis Tsipras urged lawmakers to …

Europe

Congratulations, Greece! You’re now almost as creditworthy as Pakistan

Greece is making its way up in the world. Yesterday (July 20), it repaid overdue debts with the IMF, ending an ignominious period in which it spent a few weeks in the company of Somalia, Sudan, and Zimbabwe as one of the only countries in arrears with the fund.<p>Now, Standard & Poor’s has upgraded …

Puerto Rico

The Euro-Summit ‘Agreement’ on Greece

The Euro Summit statement (or Terms of Greece’s Surrender – as it will go down in history) follows, annotated by yours truly. The original text is …

Europe

Yanis Varoufakis just trashed Greece's bailout deal with a line-by-line takedown

Quickly after Varoufakis stood down, new Finance Minister Euclid Tsakalotos proposed a deal that looked extremely similar to the one rejected in Greece's July 5 referendum. The government emerged with a deal after tough negotiations last weekend, and Varoufakis has now slammed it in an article on …

Europe

Greece and Europe Must Consider Ecuador

<i>The sucre maintained a fairly stable exchange rate against the US dollar until 1983, when it was devalued to 42 per dollar and a crawling peg was</i> …

Ecuador

Europe's Insane Deal With Greece

If the definition of insanity is doing the same thing over and over and expecting a different result, the leaders of Europe and Greece are …

Radical austerity’s brutal lies: How Krugman and Chomsky saw through dehumanizing neoliberal spin

The battle in Greece is identical to the one we need to be waging right here for fairness over markets and banks<p>The referendum in Greece refuting the European Union’s unbending insistence on radical austerity as the medicine Greeks must continue to swallow is simply not to be missed for its …

Europe

Greece must rediscover the spirit of Marathon to burst its euro shackles

German proposals to take over Greek state assets are tantamount to tyranny<p>There is a moment in most action-adventure movies when the hero is surprised by something nasty. There he is, trying to sneak his way into the enemy HQ when he hears a terrifying noise in his ear.<p>It is an oily little click. …

The Eurozone tells Greece: be a vassal or an outcast

The Eurozone is shaping to give Greece 72 hours to choose between being a vassal and an outcast.<p>According to the terms of the latest draft statement …

Europe

Greek crisis: surrender fiscal sovereignty in return for bailout, Merkel tells Tsipras

German and French leaders press Greek leader for guarantees over austerity measures in what an EU official describes as ‘extensive mental waterboarding’<p>European leaders have confronted the Greek government with a draconian package of austerity measures entailing a surrender of fiscal sovereignty as …

Europe

Trouble brews on EU doorstep over German plan to shut out Greece

Greece’s two biggest creditors are divided on whether to expel it from the eurozone, with France dismissing Germany’s talk of an ultimatum<p>The Greek crisis has pitted Athens against the rest of the eurozone. But Germany’s proposal for Greece to leave the euro has portended a deep split between two …

Europe

Greece Given 72 Hours to Win Trust by Passing Bailout Laws

Prime Minister Alexis Tsipras was given three days to push new austerity measures through parliament and keep alive Greece’s chances of staying in …

Europe

Greek debt crisis: deal reached after marathon all-night summit - as it happened

EU leaders have reached agreement that paves the way to a third Greek bailout, if Athens parliament approves tough austerity measures<p>NEW LIVEBLOG: Tsipras faces uphill battle to implement bailout deal Tusk: We have aGreekment (seriously) Merkel: No need for Plan B Tsipras: Tough decisions …

Europe

Greece debt crisis: German plan demands €50bn of state assets is transferred to external fund

Fiscal hawks among Greece's eurozone creditors are taking an openly firmer line with Athens, including a proposal that Greece transfer €50bn of state …

Down and Out in Athens and Brussels

In the next several days, decisions taken by Europe on the Greek crisis – particularly whether to reverse the shutdown of the country's banking …

Debt Relief

Greek debt crisis: Goldman Sachs could be sued for helping hide debts when it joined euro

Goldman Sachs faces the prospect of potential legal action from Greece over the complex financial deals in 2001 that many blame for its subsequent …

Opinion: Would Grexit be a disaster? Probably not, says history

If Greece rejected the international “bailout” terms, defaulted on its debts and dropped out of the eurozone, would it really face economic …

Great Depression

Why is Greece such an economic success?

<b>Library of Economics & Liberty</b> <i><br>July 11, 2015</i><p>Greece is widely viewed as an economic basket case. This recent article in the Financial Times discusses …

Bewildered Greeks left wondering what happened to referendum 'No' vote

Less than a week after they celebrated their rejection of a harsh austerity plan, many Greeks are struggling to understand why Alexis Tsipras is signing up to even deeper spending cuts<p>Less than a week after they triumphantly gave international creditors a bloody nose by rejecting a harsh austerity …

VAROUFAKIS: This is all about Germany wanting 'to put the fear of God into the French'

In a new op-ed in The Guardian, Varoufakis breaks down his view of what Germany — the most powerful voice at the Greek debt-negotiating table — really wants. And that is Greece out of the euro.<p>But the twist is that Germany wants Greece out of the euro in order to teach a lesson of sorts to the …

Europe

Here's what's on the line for Greece this weekend

This weekend, European officials are set to meet to discuss the latest bailout proposal offered by Greece to its European creditors.<p>And the future of Greece's position in the euro depends on it.<p>Since the surprise announcement from Greek prime minister Alexis Tsipras on June 26 that Greece would …

Europe

Greece Faces Showdown With Creditors as Lawmakers Back Deal

Alexis Tsipras’s government is heading into a weekend of political wrangling in Brussels after winning the backing of Greek lawmakers to negotiate a …

Europe

Greece debt crisis: MPs back bailout reform plan

<b>Greece's parliament has backed a government package of economic reforms aimed at ending the country's debt crisis and securing a new bailout.</b><p>After winning cross-party support in a late-night vote, PM Alexis Tsipras said he had a "strong mandate" to complete negotiations with Greece's …

Europe

Greece Seeks $59.2 Billion Bailout as Tsipras Bows to Demands

In an 11th-hour bid to stay in the euro, the government of Greek Prime Minister Alexis Tsipras offered to meet most of the demands made by creditors …

Europe

A Debt Deal to Keep Greece in the Eurozone?

Until we see the details of the new proposal from Athens, which is due to be delivered to Greece’s European creditors by midnight on Thursday, it is hard to assess the chances of a face-saving deal that would keep the country in the eurozone. The outlines of a possible compromise are already …