Sovereign Debt – DEMAGAGA

News

Japan’s National Debt Problem Visualized

Addogram provides us with a visual representation of an otherwise complicated concept – government accumulation of sovereign debt obligations. How has Japan, once one of the world’s top, booming economies, drifted into malaise and stagnation? A combination of low interest rates and deficit government spending has led to a situation in which the Japanese central […]

News Headlines May 25, 2013

French Soldier Stabbed in Paris, Investigators Seek Link to Woolwich, UK Murder Riots in Sweden Spread Beyond the Capital of Stockholm Suicide Bomber Strikes in Dagestan Attacks on Muslims in the UK Increase in Wake of Woolwich Murder Google to Bring Wireless Internet Access to Africa British Police Arrest 3 More in Connection to Woolwich […]

Finance Minister Tendai Biti: $217 Remains in Zimbabwe’s Sovereign Account

In a report from Agence France Presse, Tendai Biti told reporters in Harare that Zimbabwe would have $217 remaining after it paid government workers, leaving the nation’s finances in a state of paralysis. Zimbabwe had extraordinarily high levels of inflation in 2011 and 2012 which the IMF claims have only recently moderated at levels beneath […]

Greeks Sell-Off Assets to Repay Debts in Europe’s Newest Onion Economy

Firesale privatization of Greek State Assets Raises Concerns for Future of Greece, accusations of Corruption In order to repay its sovereign debts, the Greek government has placed everything from a police headquarters in Athens to leasing private beaches on the auction block to raise much-needed funds. As part of its bailout of Greece, the International Monetary Fund […]

Three-Party Coalition Greek Parliament Passes Law to Boost Tax Revenues by $3 Billion Annually

The move comes from the coalition government in Greece’s parliament in order to appease creditors to the debt-ridden state as part of its bailout agreements. The law raises taxes on top earners, simplifies tax brackets, and extends income taxes to farmers. As part of its $45.5 billion bailout, Greece has to pass such laws even […]

After a Two Month Detention in Ghana, Argentine Ship ARA Libertad Released

Originally held for Argentina’s refusal to pay sovereign debt obligations from a 2002 default, the ARA Libertad was released from its seabased prison in Ghana and returned home to fanfare and parades in a spectacle in the capital of Buenos Aires that embattled Argentine President Cristina Fernandez de Kirchner called a ‘victory.’ Financial fund NML Capital obtained a ruling […]

Europe’s Economic Woes Forestall Worldwide Recovery

The issue of European economic troubles will be addressed at the upcoming G20 summit in Mexico City, Mexico. The crisis with the euro and the implosion of sovereign debts in Greece and elsewhere present strong impediments to the growth of the world economy. Additional issues to be addressed at the meeting include China’s unwillingness to […]

The European Financial Crisis Has Left Greek Society in Chaos

Doctors going unpaid for months. Legions of unemployed swamping benefits offices across the country and a situation in which even the employed are not receiving money. Such is the state of Greece, a society in ‘free fall’ ever since the financial crisis began. [Yahoo News]

Is the European Union Going to Fail?

The bailout of Greece and the sovereign debt crisis in Spain has called into question the long-held notion that a federal Europe was all but an inevitability. Will problems of collective action ultimately doom one of history’s most ambitious political experiments? Will the affluence of the North and the dereliction of South sunder apart a […]

News

Talks to Form Greek Coalition Government Collapse – New Elections Expected as Euro Zone in Turmoil

Greek President Karolos Papoulias has announced that talks to form a coalition, technocratic government have failed and new elections are expected. Evangelos Venizelos, leader of the Panhellenic Socialist Movement (PASOK), has presided over three failed coalition talks and is now instrumental in forming a caretaker government to chaperone Greece into its next round of elections. […]