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Jean Claude Juncker. via Wikipedia In an interview to Germany’s Focus magazine, that was published after July 2 meeting of the finance ministers of the euro zone who formally approved a further 12 billion euro bailout to Greece, Eurogroup chairman Jean-Claude Juncker said that “Greek sovereignty will be massively limited”. Juncker was referring to the… » read more

Market expectations will soon again take a downturn Yesterday June 30, the Greek Parliament passed the necessary legislation that puts the “medium-term programme” into force. In response to the news the markets reacted positively, as now a Greek default that would be catastrophic for the EU at this stage, has been prevented or better say… » read more

Never before in the last 50 years have European political leaders spent so much energy and time on the solution of a problem that should never have arisen: the Greek debt crisis. The Greek debt crisis has occurred because of serious shortcomings in economic governance in Greece, with a good deal of co-responsibility by EU… » read more

Greece must choose the road of change or the road of catastrophe: that was how Greek prime minister George Papandreou described the two options facing the Greek people before Wednesday’s austerity vote in the Athens parliament. Parliament’s approval, by 155 votes to 138 with five abstentions, marked a first step. More must follow as implementing… » read more

Victim in protests. Source: keeptalkinggreece.com Amid the chaos caused by conflicts between demonstrators and the police, 155 out of 300 Greek Members of Parliament approved a package of austerity measures, labeled “medium-term programme”, which includes massive privatizations of state property, wage, pension and services cuts, in order to theoretically save 28bn euros. The medium-term programme… » read more

As the sun rises over central Athens those that have engulfed the Parliament building ponder their situation. They have been driven here by disappointment, desperation, even anger and the stark realisation that this is truly as bad as it gets. Their disenchantment has made them think the unthinkable and all of the sudden While their… » read more

Photo of Syntagma Square by Demitris Messinis (AP Photo) Today is the day where the Greek Parliament will decide over a new package of austerity measures that are a condition for receiving the next payment of the loan. The new stricter measures are passed under the title “medium-term programme”, which is actually long-term since it… » read more

Guest post from CIDSE, the international alliance of Catholic development agencies Until recently a tax on financial transactions appeared a far away dream. The rapidly increasing public and political support for the tax shows, however, that the global campaign in favour of financial sector taxation has come a long way. Most recently, statements by European… » read more

While terms, such as ‘crisis’ and ‘politics in flux’, have been frequently applied to almost every shift in European and national-level politics and policies, the political repercussions of the on – going global economic crisis clearly deserve both those labels. Among the manifold political aspects of the crisis, three stand out. To start with, the… » read more

Jose Manuel Barroso I came across this news piece from EuropeanVoice.com reporting the statement of European Commission President, Jose Manuel Barroso about imposing the so-called “Robin Hood Tax” on financial transactions. Here’s the extract from the reported news: “Every sector needs to contribute to the economic crisis, none more so than the financial sector.” He… » read more

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