February 23, 2012
It’s no surprise that the “disciplinary” elements of this week’s Greek bail-out deal have been badly received by many in Greece. Strengthening of the Commission Task Force in Athens to provide an “enhanced and permanent presence” to oversee Greek government measures, and deposit of quarterly debt repayment funds in an escrow account to ensure their… » read more
Posted by Michael Berendt
February 9, 2012
Devaluation was invariably the path to survival for weaker European economies in the days before the euro. But when devaluation is no longer an option, there is evidently no choice for failing economies but to squeeze public spending and slash labour costs in the hope of paying off debt and restoring competitiveness. A striking aspect… » read more
Posted by Michael Berendt
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Balkan politics, ECB, Economy & Euro, Eurozone, Finance , greece |
Blogging commentary on current events from the perspective of someone who has been closely involved with the policies, the policy-makers and the whole complex network of people who make the process of European integration so exciting and absorbing.
