A real default is the only good and fair way to ensure the write-downs occur and the system can move beyond Greece.
The battle is forming up along the lines of those who are trying to show some restraint and prudence and are willing to deal with the consequences of that decision against those who want to do everything possible, giving the highest chance of “success” with absolutely no downside protection.
George Soros ha estado aportando ideas sobre lo que Europa tiene que hacer para reconducir la crisis. ¿Tienen sus ideas posibilidades de éxito?
It is just a matter of time before these possibly catastrophic debt chasms erupt into full view.
It seems so long ago, but it was just over a year ago the EFSF was first created….
Entrevista exclusiva a Nigel Farage, líder del Partido por la Independencia del Reino Unido (UKIP) y diputado en el Parlamento Europeo.
Perhaps the prospect of currency competition would result in more cautious monetary policy by the ECB.
Exclusive interview with Nigel Farage, UK Independence Party (UKIP) Leader and Member of the European Parliament.
Greek economist Yanis Varoufakis on the roots of the crisis in the Eurozone, and his own proposals for solving it.
La tragedia de Europa es que quienes tienen el poder para rediseñarla (y, por ende, resolver sus problemas) perderían una enorme capacidad negociadora dentro de la eurozona si lo hacen.
It is apparent that some of the PIIGS will default, maybe all of them.
A bailout of Italy would cost the EU another €500 or €600 billion. Spain would be another €300 billion. Why would Germany and France want to do that?