Category Archives: Eurozone Crisis

An Accounting Threat

The WSJ reports, Starting in 2017, EU rules will require European governments to calculate the total amount they must pay current and future pensioners. Making this obligation more visible could spur them to deal with it, said Hans Hoogervorst, chairman … Continue reading

Posted in Eurozone Crisis, government debt crisis | 5 Comments

Greece and Representative Negotiation

John Cochrane writes, So, the Drachmaized Greece that I see is not the cleanly devalued newly competitive powerhouse that some on the left seem to envision. Instead I see a two-currency economy. Pensioners and government workers and anyone unlucky enough … Continue reading

Posted in books and book reviews, Eurozone Crisis, Three-Axes Model | 7 Comments

The Greek Crisis and the Subprime Crisis

Ana Swanson writes, Matthijs compares the situation to the U.S. subprime crisis. Who was really at fault for the housing crisis in the U.S.: The subprime borrowers who bought houses they couldn’t afford, or the predatory lenders who encouraged them … Continue reading

Posted in Eurozone Crisis, Financial Crisis of 2008, links to my essays | 5 Comments

Anil Kashyap on Greece

Probably the best analysis so far. Mostly, it is a recap of the past. But in talking about the pending referendum, he writes, if the public sides with Tsipras government, then there will be a very sharp recession over the … Continue reading

Posted in Eurozone Crisis, government debt crisis, links to my essays | 4 Comments

I Was (somewhat) Right About Greece

I wrote, I think that the route by which German money gets to the Greek government will be opaque and circuitous for face-saving reasons, but I expect such an outcome. The WSJ writes, Greece‘s latest bailout repayment to the International … Continue reading

Posted in Eurozone Crisis | 1 Comment

Economists and Greece: Finish the Sentence

Greece will achieve economic success when ____. My inclination is to feel as unable to complete the sentence as I was the similar sentence about peace in the Middle East. Yet Simon Wren-Lewis writes, To be able to say intelligent … Continue reading

Posted in Eurozone Crisis | 2 Comments

How to Live Beyond Your Means

1. The WaPo reports, Today, they struggle under nearly $1 million in debt that they will never be able to repay on the 3,292-square-foot, six-bedroom, red-brick Colonial they bought for $617,055 in 2005. The Boatengs have not made a mortgage … Continue reading

Posted in Eurozone Crisis, Financial Crisis of 2008 | 10 Comments

Yanis Varoufakis talks with Russ Roberts

He says, You and I would not be talking about Greece today if Greece in 1999 by some miracle of politics and rationality had stayed out of the Eurozone. That is the reason why it is such a disaster; and … Continue reading

Posted in Eurozone Crisis, Tyler Cowen is my Favorite Blogger | 1 Comment

What’s In Alexis Tsipras’ Wallet?

He is soon to be the Greek premier. The Independent reports, A Syriza government would have to rely on taxes but tax revenues are down as people wait to see if taxes will be reduced by the new government. This … Continue reading

Posted in Eurozone Crisis, Tyler Cowen is my Favorite Blogger | 11 Comments

The European Debt Crisis–Not Quite Over

Theodore Pelagidis writes, The latest polls put Syriza ahead by 5-7 points, as angry voters from across the political spectrum get behind the party. It’s not surprising. This “supermarket” party promises almost everything to anyone, masking its policies with romantic … Continue reading

Posted in Eurozone Crisis | 1 Comment