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Why Do the Greeks Resoundingly Reject Austerity Yet Singaporeans Embrace It?

On Sunday Greece’s voters overwhelmingly rejected the latest terms offered to them by their Eurozone creditors for rescheduling their huge debt mountain.

With Greece’s debt to GDP ratio at 170% cutting spending and raising taxes to create a higher government surplus to pay interest and principal on debt is a vicious circle. 1,052 more words

The Market

The Lesson Of Greece - Stuff Your Money Under The Mattress.

The manager of one of Britain’s largest bond funds has effectively urged investors to put their money under their mattresses. Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds, is concerned that what he describes as a “systemic event” could rock markets possibly to the magnitude of the crisis of 2008 which, in the case of Britain, began as a result of the run on Northern Rock (1). 1,417 more words

Can new finance minister Euclid Tsakalotos resolve Greece's economic crisis?

Fianance Minister Yanis Varoufakis handed in his resignation mere hours after Greek voters gave a resounding “Oxi” (No) to the conditions of an economic bailout — the result the leftist Syriza-led government wanted. 580 more words

World

Greeks Vote Against Austerity Proposal, Seek New Terms to Resolve Debt Crisis

On July 5, Greek citizens decisively voted “no” on a 68-word referendum about whether to accept a proposal from international financial institutions. The proposal involved the creditors extending a bailout program to Greece in exchange for new austerity measures. 715 more words

IVN

Is Tsipras a reckless revolutionary, bold leader, or calculating gambler? Yes

ATHENS–The results of the referendum are in, but on the day after the vote, it isn’t clear that the results are as big a victory for Alexis Tsipras, the prime minister of Greece, as he might’ve hoped. 838 more words

Auf Referendum folgt Addendum

Jawohl, heute geht es gebildet zu. Eine mediokre Überschrift, aber immerhin reimt sie sich, es sind komische Fremdwörter drin und sie passt sogar zum Artikel, der wirklich nur ein kurzer Nachtrag ist. 307 more words

Notiz

The Greek Demos vs. The Banker Elite

THIS IS GOING TO GET UGLY

When it comes to the economics of the Greek crisis, I defer to those who know better what they are talking about than a sociologist. 1,283 more words

Economics