Un escritor español residente en Atenas envía un mensaje a Europa sobre la crisis griega.
For the first time, eurozone leaders were willing to openly acknowledge that a member state might actually leave the euro.
When the Greek referendum looked like a possibility, a thinly disguised panic erupted along the corridors of power in Europe.
Interview with Michael Hudson on the Greek crisis.
I would be very careful buying Italian CDS as they could redenominate their bonds in LIRE and it wouldn’t be a Credit Event.
A real default is the only good and fair way to ensure the write-downs occur and the system can move beyond Greece.
The rioting in Greece indicates that there may be massive voter enthusiasm for a solution along the lines of what occurred in Iceland.
Learning to land…
As talk about an actual restructuring of Greek debt increases, the EU continues to think that avoiding a CDS Credit Event is a good thing.
Michael Hudson discusses how democracy has been subverted.
«If Berlin comes to the conclusion that it wants ‘out’, it will get out itself before giving the green light to Athens to leave.» -Yanis Varoufakis
«Si Berlín llega a la conclusión de que quiere ‘salirse’ del euro, saldrá por sí mismo antes de darle luz verde a Atenas para que lo abandone» –Yanis Varoufakis
Entrevista al economista griego Yanis Varoufakis.