Eurozone crisis – DEMAGAGA

News

Embattled Greek Prime Minister George A. Papandreou Survives Parliamentary Confidence Vote.

In a good sign for Greece’s continued membership in the eurozone currency bloc, besieged Prime Minister Papandreou has survived a confidence vote in the Greek parliament with promises to form a unity government. To quote: “I have been in contact with the president and I will visit him tomorrow (Saturday) to inform him of my intentions […]

Greek Prime Minister George Papandreou’s Call for a Referendum Plunges Greek Government, Markets Into Chaos.

Embattled Greek Prime Minister George Papandreou’s call for a referendum on the proposed Greek bailout package has sent his government teetering on the brink of collapse and left the global financial markets roiling in its wake. Indeed, it has almost become farcical that a nation, incapable of repaying its debts, is now holding the eurozone […]

Millions Missing from MF Global Clients’ Money.

The bankruptcy of MF Global is revealing some interesting stories surrounding the collapse, namely, that the firm is guilty of using its clients’ money to finance its own trades, a big no-no according to the SEC. MF Global, the securities firm under the direction of former New Jersey Governor and Goldman Sachs executive Jon Corzine, […]

The People’s Republic of China Cannot Bail Out the Eurozone.

Even as French President Nicolas Sarkozy advocated for an expansion of the European Financial Stability Facility to allow for the inclusion of sovereign wealth funds, he was getting the cold shoulder from Beijing which warned it could not play as large a role in the solution of the eurozone crisis like many had hoped. Klaus […]

More Porsche Cayennes in Greece than People Able to Afford Them.

On the heels of the saving of the Euro comes fresh news of Greek disorganization and economic mismanagement. According to this article by Ian Cowie from the UK’s Telegraph, there are more Porsche Cayenne SUVs in Greece than people who can afford them according to their income tax declaration forms. An income of 50,000 euros […]

Slovakian Parliament Says “No” to the Expansion of the European Financial Stability Facility Expansion.

The last of the 17 member Eurozone nations, Slovakia, voted down an expansion of the European Financial Stability Facility after its passage was tied by the Freedom and Solidarity Party to a confidence vote which would have toppled the government. The Freedom and Solidarity Party argued that Slovakia, second poorest of the Eurozone nations, should […]

Could Slovakian Laissez Faire Diehards Hold Back the Expansion of the EFSF (Euro-zone bailout fund)?

Slovakia’s Freedom and Solidarity Party, one party in Slovakia’s four party ruling coalition, has threatened opposition to Slovakian approval of the expansion of the European Financial Stability Facility (EFSF) rooted in a dedicated belief on Freedom and Solidarity’s part in laissez faire capitalism. Arguing that the expansion of the EFSF is the first step on […]

Could Slovakian Laissez Faire Diehards Hold Back the Expansion of the EFSF (Euro-zone bailout fund)?

War Without the Euro? Not likely.

The European Union and the Eurozone project represent world geopolitical paradigms that are the legacies of World War II and the Cold War era. Beginning as the European Coal and Steel Community, the European Union had its stated aims in the supranationalist spirit of the ECSC’s founding organizers as well as in the principle of […]