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On ABC Radio National, discussing Greece's sorry state

, 18/03/2013

Interviewed on ABC Radio National, Saturday Extra, on the state of Greece: 16th March 2013

On the social conditions in Greece, now

, 04/03/2013

In preparation for a radio interview on ABC Radio National, I was asked the following questions on the situation on the ground in Greece. Thought I should share my answers with you. Will keep you posted re. the actual interview.

Economic illiteracy in the service of economic misanthropy: An Econ 101 reminder of the meaning of the multiplier for austerians

, 19/02/2013

Here is a quote from a recent pro-austerity article in an Establishment Greek newspaper: “Let us not forget that [Greece’s] primary surplus in 2009 was 10% and the result was a recession of 2.8%. Thus the fiscal multiplier was -3.5, not 0.5, not 0.75, not 1.7!” The author’s purpose, of course, was to argue that the […]

Why is the 2009 Greek government deficit probed by the courts, again?

, 29/01/2013

Greek judges are, again, moving against Mr Georgiou, the Head of ELSTAT (the revamped Greek national statistics bureau). Why is this happening? And what does it signify?

Greek unemployment: Interviewed by John Doyle, ABC Radio National

, 15/01/2013

Unemployment in Greece is now at a staggering 27%, but behind all the statistics and the ongoing international drama there lies a major human tragedy and an ongoing European Crisis that is ravaging the continent like an unstoppable bushfire. Click: RN Breakfast Tue 15th Jan 2013 – Greek unemployment

The Eurozone and Greece: Is the Crisis over?

, 15/01/2013

A journalist from Chile’s El Mercurio just put two questions to me:  (1) Is the Eurozone safe? and (2) Is Greece stabilising? Here are my answers:

Taking stock of 2012: Interviewed by Doug Henwood on KFPA

, 09/01/2013

Just before New Year’s Eve, I had the pleasure of being interviewed by Doug Henwood once again. As the New Year was approaching fast, our talk, naturally, summed up developments on the Euro Crisis during 2012 and the prospects for 2013. To listen click: Behind the News with Doug Henwood for December 27th 2012 Podcast Contents […]

Taking stock of the Global and Euro Crisis

, 16/12/2012

A Spanish journalist interviewed me on the Spanish language edition of The Global Minotaur. Her questions, however, gave me an opportunity to look retrospectively at the Global Crisis, its Eurozone offshoot and, of course, the worst aspect of the latter, the Greek calamity. In the process, I refer to what I call the ‘death of […]

Greek Debt Buyback – another sad verdict, surrounded by much merriment

, 12/12/2012

Greek authorities have announced that the Dutch auction has produced offers of 31.9 billion worth of (post-PSI) Greek government bonds at an averaged price of 33.8% of face value. The same sources reveal that the Greek banks were strong-armed into offering all their holdings (against their better judgment), a total of around 17 billion. Which […]

On the sad algebra of the Greek Debt Buyback

, 10/12/2012

In a previous post, I dissected the recent Eurogroup plan to save Greece (again!). Today I single out the debt buyback operation which is a crucial aspect of that plan.

Debt, Europe, Greece and the World Economy: Addressing the Kreisky Forum, Vienna, Wednesday 5th December 2012

, 02/12/2012

Anyone in Vienna this coming Wednesday (5/12/2012)? If so, perhaps you may pop in at the Kreisky Forum to hear me address: THE GREEK CRISIS AND THE EUROPEAN TRAGEDY THE DEBT CRISIS AND THE FUTURE OF THE WORLD ECONOMY For the official announcement…

The Eurozone after the November Eurogroup ‘Greek Deal’: On the current state of play

, 01/12/2012

On November 27th, 2012, the Eurogroup (comprising the Eurozone’s finance ministers) reached a decision on Greece. Its essence is a guarantee that Greece will remain in the Eurozone (and therefore off the Northern European agenda) for another ten to twelve months; at the very least until the German federal political cycle has seen through the […]

Greece Debt Crisis Continues to Unravel, Offers Strong Lessons for the US: Radio interview

, 13/11/2012

Click here for an interview with Los Angeles area radio station uprisingradio.org in which we discuss the Greek debt crisis and the lessons to be drawn from it for the United States.

Dial Greece for Swindle: How disunity within the troika is straining their denial of Greece’s bankruptcy

, 13/11/2012

You may have heard that Greece is facing official bankruptcy as a result of Europe’s failure to deliver the funds that would allow the Greek government to carry on pretending that it is not insolvent – by redeeming a bond which is about to mature while in the possession of the European Central Bank. The truth […]

Hanging in quiet desperation is (becoming) the Greek way

, 12/11/2012

This blog has a tendency to worship the large picture and to focus on the great issues of the day, with the Euro Crisis as its usual focus. There are times, however, when the small, miniscule picture, some snapshot of one person’s world, offers a stupendously large perspective from which to gather the greater scheme […]

Which Second Haircut for Greece? By Kunibert Raffer

, 09/11/2012

Cross-posted from FSB Watch  “Europe Pushed by IMF’s Lagarde to Consider Greek Debt Write-Off” Bloomberg reported recently. More cautious, the Wall Street Journal remarked that Lagarde had not expressly said so, although “some” saw a “public, albeit oblique, acknowledgment” of this necessity, and “some economists say” her request “would necessarily require restructuring Greek debt held […]

An emergency program for Greece

, 05/11/2012

The Greek government, under intense pressure from the troika of its lenders (IMF-EU-ECB), is about to give the wheel of depression another, powerful turn. At a time when national income is shrinking at a rate not seen since the Great Depression in any post-feudal society, in an economy where the circuits of credit (not just […]

A small victory for press freedom in Greece’s struggle against its cleptocracy

, 02/11/2012

A couple of hours ago, Kostas Vaxevanis, editor of HOT DOC, was acquitted by an Athenian court for having published the so-called Lagarde List. The charge was that he violated data protection legislation by publishing a list of more than two thousand names who had held a bank account with HSBC in Geneva. The not-guilty […]

Discussing Greece and Europe on Business Spectator; interviewed by Robert Gottliebsen

, 25/10/2012

Robert Gottliebsen, one of Australia’s leading business and economics journalist, interviewed me recently in Melbourne for Business Spectator. Like many anglosaxon business commentators, Robert clearly thinks that Greece is facing an impossible future within the Eurozone and that it would be better off leaving the currency union. In this interview, he began by asking me […]

Greek Crisis: Why There Is No Such Thing (And How To Escape It), tonight in Melbourne

, 14/10/2012

The Greek Community of Melbourne is, as is well known, the largest and best established outside of Greece. It is, therefore, an honour to have been invited to address its members in a building reeking with history but which, quite fittingly (given my topic and the times Greece is going through), is about to be… […]

On the prospects of the Greek fiscal consolidation program: interviewed by Format

, 14/10/2012

Martina Bachler, of Format (Austria’s leading weekly business and economics magazine), kindly interviewed me on the prospects that Greece’s fiscal consolidation program could be put back on its tracks (under the policy mix favoured by the troika). Regular readers will not be surprised to read that I described this as a ‘zero probability event’. Click […]

On the Euro-Global Crisis: Four lectures in Australia and one in London, October 2012

, 11/10/2012

During the coming next fortnight, I shall be on a lecture tour of Australia and Britain. The first lecture will be delivered on Monday 15th October in Melbourne, at the Greek Community Centre (which will, fittingly, be demolished soon after!). Then, I shall be speaking at two CPA conferences, together with Lord Lamont (formerly Chancellor of the Exchequer) in […]

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