Saturday, May 12, 2012

Greece austerity

  • BERLIN -- The head of Germanys central bank is warning that there would be no basis for further financial aid to keep Greece afloat if the country backs off agreements with international creditors.
  • (Huffington Post)
  • ATHENS — The ascendant leader of a left-wing party on Friday rejected calls to join a unity government, pushing Greece closer to new elections debate over the tough and deeply unpopular austerity measures approved to win foreign aid.
  • (New York Times)
  • The European sovereign debt crisis has entered a new phase of complexity after Sunday's elections in France and Greece, where the real winner was the popular backlash against austerity.
  • (Forbes)
  • German bunds surged, sending the nation's borrowing costs to all-time lows, while Greece's bonds sank as a political stalemate following inconclusive elections renewed concern it will exit the euro bloc.
  • (Bloomberg)
  • Deeply divided over the value of austerity measures, Greeces wrangling politicians have failed to form a new coalition government, leaving only one more meeting with the countrys president before new elections are scheduled for June.
  • (RealClearPolitics)
  • ECONOMIC austerity is a dangerous, self-defeating intellectual fad. Perhaps I should say that's what it was, in light of Sunday's election results in Europe. And I should also say, "Good riddance.
  • (New Haven Register)
  • Europe's more than two-year-old debt crisis was reignited this month after voters in Greece and France backed candidates opposed to austerity measures masterminded in Germany by Chancellor Angela Merkel.
  • (Businessweek)
  • In Greece, more than 60,000 retailers have closed, throwing even more people out of work, including the retailers' suppliers. Austerity programs drive weak economies directly into recession. And that's exactly what's happening in Europe.
  • (Kansas City Star)
  • European Union paymaster Germany warned Greece on Thursday that European partners could only go on aiding debt-ridden Athens if it sticks to an international bailout programme rejected by voters in a general election.
  • (FOXBusiness)
  • Greece's political landscape is in disarray after voters who has emerged as the standard bearer for opponents of the bailout's harsh austerity measures and has the most to gain from a new election.
  • (Financial Times)

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