Stage Three for the Euro Crisis?

DeLong, Bradford. The first two components of the euro crisis – a banking crisis that resulted from excessive leverage in both the public and private sectors, followed by a sharp fall in confidence in eurozone governments – have been addressed successfully, or at least partly so. But that leaves the third, longest-term, and most dangerous […]

There is no historical precedent for the break-up of the eurozone.

The consequences of the eurozone breaking up represent one of the great unknowns in the present economic crisis. Jens  Nordvig writes that while there have been several examples of currency unions breaking apart in the past, the scale of the eurozone and its importance to the global economy would make such an event unprecedented. Even […]

Ο πολυμήχανος Οδυσσέας

Τι και αν οι περικοπές δεν έχουν τελειωμό και γίνονται ολοένα και πιο σκληρές και άδικες, τι και αν τα χαράτσια έχουν γίνει καθημερινός εφιάλτης, τι και αν τα βασικά είδη για την καθημερινή διαβίωση ακριβαίνουν με ανεξέλεγκτο ρυθμό, τι και αν ο χειμώνας που έρχεται θα μας βρει με την τιμή πετρελαίου θέρμανσης κατά […]