Search Results for "Greece" : 17

by / on June 25, 2012 at 12:09 am / in Opinion, Uncategorized, World

In the Name of Macedonia

…rst in recent memory to take the conqueror’s name, following Skopje’s airport and the country’s main highway. To Greece, Macedonia’s neighbor to the south, the dedications have been seen as provocations – the latest in a conflict that has pitted the two countries for over 20 years. Greece accuses the former Yugoslav province, which has been independent since 1991, of stealing its national heritage and misappropriating Hellenic heroes such as Phil…

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by / on October 31, 2010 at 9:25 pm / in Business, Congress, Content, Domestic, Issue

The Debt Offensive: Focusing on Austerity

…DSR. A private company, if solvent, would never be unwilling to repay debt. However, sovereign nations, such as Greece most recently, have proved quite unwilling. With 20 percent more debt than GDP in 2009, Greece faced an unsustainable deficit. The value of its government bonds, even with additional insurance on them, was less than any other sovereign-issued bond. In terms of price, investor confidence in Greece’s willingness to repay debt erod…

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by / on February 19, 2012 at 1:30 pm / in Opinion, World

A Sisyphean Effort

…nd austerity measures necessitated by it are causing a massive change in the economic and political structure of Greece. Before the recession, the public center in Greece accounted for 40 percent of the GDP. The service sector, composing 70 percent of the Greek workforce has been severely hit by the recession, with the most recent unemployment numbers comprising 20.9 percent of all Greek workers. Despite the continual giving of aid, this continue…

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by / on November 9, 2011 at 1:00 pm / in Most Recent Column, Opinion, World

Berlusconi’s Austere Grip

…n. The reaction from Europe and the international community has been strikingly similar to their response toward Greece. Berlusconi has agreed to push aggressive new austerity measures, despite the horrendous Italian growth rate. Olli Rehn, the European Union’s Economic Affairs Commissioner, says he wants answers from Italy about how it plans to implement its promised reforms by the end of the week. This did not turn out so well for Greece.  Aust…

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by / on October 31, 2010 at 8:58 pm / in Business, Congress, Content, Domestic, Issue

The Debt Offensive: Focusing on Entitlements

…d by lost investor confidence due to high debt and wide deficits are both serious and tangible. The situation in Greece has allowed other European nations to witness the adverse effects of a credit crisis firsthand. In late April, following the downgrade of Greece’s credit rating to junk status, the cost of borrowing skyrocketed with yields on Greek government two-year bonds rising to 15.3 percent. Had the European Union not enacted a rescue pack…

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by / on October 26, 2011 at 1:52 pm / in Most Recent Column, Opinion, World

Lavora, Nonna, Lavora!

…ted to unravel into even more of a mess than it has been in the past several years. Even after multiple bailouts Greece is still in tatters. It now looks like those who loaned money to Greece may just never get this money back. Private investors in Greek debt may need to take a 50 percent loss rather than the 21 percent loss previously agreed to, according to eurozone finance minister Jean-Paul Juncker. But Greece isn’t even the biggest concern i…

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by / on March 13, 2013 at 12:33 pm / in Europe, Opinion, World

The Future of Europe: Break up or federalism?

by 2012 was meant to be the year of reckoning for the eurozone. The Spanish banking system lay in tatters, the long-term interest rate on Italian debt was unsustainable, and the prospect of a Greek exit seemed frightengly plausible. Yet the doomsayers, of whom there were many, have had to think again as the euro is still completely intact, mainly due to Mario Draghi, the head of the European Central Bank. In July 2012, he remarked that…

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by / on October 13, 2012 at 11:59 am / in Opinion, World

Under Pressure

by For the last three years, Europe has been on the edge. Time and time again, the collapse of the euro has seemed alarmingly close. However, European politicians have been able to muddle through, coming up with half- baked solutions to buy time. Meanwhile, the suffering endured by the people of Spain, Greece, Italy and Portugal has been immense – on a scale comparable to the Great Depression. The youth has been the hardest hit; conseq…

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by / on January 31, 2012 at 2:30 pm / in Opinion, World

The Rocky Fate of the Euro

…of the eurozone have ceded their authority to produce money, they no longer enjoy this power, and countries like Greece have seen the repercussions of not being able to adapt to novel economic circumstances. Furthermore, while there are so-called fiscal “requirements” inherent to being a member of the Union, the ECB suffers from clearly defined and accepted methods for dealing with countries that are not in compliance, like Greece. Like resolutio…

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by / on October 1, 2012 at 9:40 pm / in Opinion, World

More of the Same: An Update

…growth has long since deteriorated and unemployment has risen upwards of 10 percent. We should probably mention Greece, too. Still fumbling to comply with the restrictions and benchmarks laid out by the EU and other international creditors, Greece announced more of the same austerity measures last week. Greece must not only plan to cut spending and increase taxes on the self-employed and professional classes, it also has to close loopholes that…

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