IMF Believes Greece Should Consider Debt Restructuring By 2012
Paris, Costas & Talley, Ian. The International Monetary Fund believes Greece’s debt is unsustainable and has told European government and central bank officials that Athens should consider restructuring by next year, three people familiar with the situation said Saturday. “The IMF believes the debt situation in Greece is unsustainable,” one of those people, who has direct knowledge […]
Euro vs. Invasion of the Zombie Banks
Cowen, Tyler. IS a euro held in an Irish bank in Dublin, or in a Portuguese bank in Lisbon, as sound and secure as a euro in a German bank in Berlin? That apparently simple question holds the key to understanding why the euro zone may splinter and bring a new financial crisis. In Ireland, […]
Slim pickings from revised deal
After all the pre-election promises to renegotiate bailout terms, create jobs and secure better economic days ahead, there were slim enough pickings on offer yesterday when Fine Gael and the Labour Party provided limited details of their revised memorandum of understanding with the EU and International Monetary Fund. The basic message was one of reassurance […]
Saving the WTO from the Doha Round
Evenett, Simon. The recent bleak news on the Doha Round of trade discussions has thrown its future into doubt once again. This column discusses ways to salvage the talks and the World Trade Organisation itself, arguing that it is time to start thinking about changing the way the organisation does business in order to reflect […]