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Giorgio Bertini

It Became Necessary to Destroy the Periphery in Order to Save the Core's Bank... - 0 views

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    The EU is not lending money to Ireland, Greece, and Portugal to help those nations' citizens. The EU is lending those nations money because if they don't those nations and their citizens and corporations will be unable to repay their debts to banks in the core. That will make public the fact that the core banks are actually insolvent. When the Germans and French realize that their banks are insolvent the result will be "severe banking crises and a return to recession in the core of the eurozone." The core, not simply the periphery, will be in crisis. The ECB and the EU's leadership would be happy to throw the periphery under the bus, but the EU core's largest banks are chained to the periphery by their imprudent loans.
Giorgio Bertini

The Failure Club: Our Leaders Are Responsible for Europe's Crisis - 0 views

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    It was neither tax evaders in Greece nor hedge funds that caused Europe's existential crisis -- political leaders in the euro zone share a great deal of the responsibility. They have been either unwilling or incapable of doing their jobs.
Giorgio Bertini

The Debt Crisis: Europe Shudders Over Greece Disaster - 0 views

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    Germany balked for weeks over a possible bailout for Athens. Now its delays are coming back to haunt it in the form of intense international criticism of Angela Merkel's crisis management.
Giorgio Bertini

Europe Worried That Greek Crisis Is Poised to Spread - 0 views

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    As Greece inches closer to the brink of financial collapse, fear that the debt crisis will spread is engulfing Europe.
Giorgio Bertini

Greek Debt Crisis Raises Doubts About the European Union - 0 views

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    Europe's consistent inability to move quickly enough to get ahead of the financial markets during the Greece crisis is shaking the euro and the foundations of the European Union itself, as critics of the euro have long predicted would happen.
Giorgio Bertini

Is It Already Too Late to Save Greece? - 0 views

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    The International Monetary Fund and the European Union are coming to Greece's aid with a financial commitment worth billions. But is it already too late to rescue the cash-strapped country?
Giorgio Bertini

Spain unveils deep budget cuts amid EU economic fears - 0 views

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    Spain's PM has outlined a plan to tackle the country's budget crisis, amid concerns that problems afflicting Greece may spread across the eurozone.
Giorgio Bertini

Nicolas Sarkozy threatened to pull out of euro over Greece row - 0 views

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    French president Nicolas Sarkozy warned of damage to Franco-German relationship if Angela Merkel opposed EU plan
thinkahol *

An Impeccable Disaster - NYTimes.com - 0 views

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    Financial turmoil in Europe is no longer a problem of small, peripheral economies like Greece. What's under way right now is a full-scale market run on the much larger economies of Spain and Italy. At this point countries in crisis account for about a third of the euro area's G.D.P., so the common European currency itself is under existential threat.
Giorgio Bertini

Explaining Europe's Debt Crisis - Video - 0 views

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    As fear continues to spread over the impact of the Greek debt crisis, more people are questioning how such a small country could impact markets around the world.
Giorgio Bertini

A Greek Test: Euro Fears Force Merkel To Act - 0 views

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    Knowing a bailout for Athens would be unpopular, Chancellor Angela Merkel wanted to postpone taking action on the Greek crisis until a key state election on May 9. But financial markets don't care about domestic German politics. Her delay could end up costing the country billions.
Giorgio Bertini

E.U. Officials Irked by Greek Downgrade - 0 views

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    European Union officials Wednesday were unable to mask their frustration with the downgrade of Greek debt by Standard & Poor's to junk status.
Giorgio Bertini

Risk Seen for Europe's Banks if Cuts Freeze Credit - 0 views

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    Analysts and investors have begun to focus on the risks to European banks if severe budget cuts by debt-ridden countries freeze credit markets and cause a double-dip recession.
François Dongier

Op-Ed Columnist - The Euro Trap - NYTimes.com - 1 views

  • All this is exactly what the euro-skeptics feared. Giving up the ability to adjust exchange rates, they warned, would invite future crises.
Giorgio Bertini

Hesitation and Patronizing Advice: How Germany Made the Greek Crisis Worse - 0 views

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    The Greeks are mainly responsible for their current predicament. But the German government has made the country's situation worse with its lectures and reluctance to provide assistance. Chancellor Angela Merkel is mainly to blame for the fact that German taxpayers now have to suffer.
Giorgio Bertini

Stability fears spread after Greek bail-out - 0 views

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    Emergency moves by the European Central Bank on Monday and the €110bn ($145bn) international rescue package agreed over the weekend have failed to quell investor fears about the future of the eurozone as concerns have risen about other member countries' stability.
Giorgio Bertini

Greek rescue fears hit global stock markets - 0 views

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    Concerns €110bn bailout will not be enough. NYSE 200 points lower; FTSE 100 down 2.5%. Spain's stock market falls 5%; Germany 2%.
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