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European Debt Crisis

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Grexodus: Diktat, Capitulation and More Trouble to Come

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The outline of a deal has been reached after a marathon 22-hour session between Greece and the European Union. To call it a negotiation would be deceptive; it was Alexis Tsipras subjected to a browbeating until he acceded to even more stringent conditions than those that were previously offered to him in June. Such was […]

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Grexodus: Óxi, Óxi, Óxi

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With slightly more than half the ballots counted, “óxi” is set to win a decisive victory. Since the first estimates were released, “No” has maintained a 20 point lead over “Yes”. With a 65% turnout, Mr. Tsipras has every justification to declare a tremendous electoral victory for Syriza and his leadership. He can thank the […]

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Grexodus: Last Act

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Polls have opened all over Greece and will close at 1900 Eastern European Time (EST+7). Prime Minister Alexis Tsipras cast his ballot early in the morning undoubtedly checking “óxi” – no – in rejection of the creditors’ demands. For the leader of Syriza and for his Finance Minister, Yanis Varoufakis, the question is clear: accept […]

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Europe Calls Greek Bluff, But the Greeks Aren’t Bluffing

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Negotiations between Greece and the Eurogroup were broken off late this afternoon due to a failure to “find common ground,” as Eurogroup Chairman Jeroen Djisselbloem said during a later press conference. The Eurogroup had insisted that there was not enough time to renegotiate the bailout conditions prior to the the end of the current program […]

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The United States and the European Union in the 2008 Financial Crisis: Two Responses and Two Results

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On Wednesday the 29th of October I had the opportunity to participate in a presentation at the Casa de América, in Madrid, sponsored by the Spanish Fulbright Association. The event was a debate exploring the different policies adopted by the United States and the European Union in response to the 2008-2009 Financial Crisis and the […]

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Bumbling and Stumbling in Cyprus

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 Burning Down the House On Saturday, March 16th, EU Finance Ministers and IMF representatives announced that a deal had been reached with representatives of Cypriot President Nikos Anastasiades’ government to provide assistance to that nation’s beleaguered banks[1]. That was the good news. The “Men in Black” then disclosed the details of the agreement: Cyprus would receive €10bn […]

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“Our obligations to our country never cease but with our lives.“

John Adams

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