Last week, Greece’s European neighbors and the IMF made their decision which has been breathlessly anticipated by the Greek people living with the looming specter of a national economic crisis. According to this decision, Greece will be supported with a new rescue package of 130 billion euros that buys the nation time to comply with…

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Certain analysts have claimed that Greece does not deserve the new financial support provided by its European partners and the International Monetary Fund. Some say that the country has not done as much as it had to do in terms of reducing the deficit, putting its fiscal house in order and becoming more competitive. Others…

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Everything has to do with politics. Every country is governed by politicians; any economy runs based on political decisions; our own future is defined by the choices of those leaders who we have elected. As I have pointed out in the past, the crisis that Greece is experiencing today is ultimately a political one and…

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Christine Lagarde’s appearance in her first press briefing as the new IMF head created reasonably high expectations about the new promising prospects she opens for the requisite restoration of the organization’s image. The unprecedented arrest of Dominique Strauss Kahn deprived IMF’s staff of his beneficial ability to lead the Fund coherently and collectively. This fact…

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In his recent story, titled “ Obama’s Partner in Athens“, the respectful Brookings Institution’s managing director, Mr. William J. Antholis tried — among other things — to persuade us that George Papandreou is probably the “Barack Obama of Greece”. I would definitely say, “no, he is not”. Although the two leaders’ political interests are crossing…

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The Greek economy continues to stand on the edge of the cliff. Despite the EU-IMF’ s bailout, — the unprecedented austerity program of cutting wages and pensions implemented by the Greek government and a tough tax invasion pushing down the buying power and income of the middle class — the forecasts are still ominous for…

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Two of the “P.I.G.S.” group members, Spain and Portugal, seem to have a strong likelihood of avoiding any kind of European and IMF external funding assistance, through the same mechanism imposed in Greece and Ireland in exchange for the implementation of a tough austerity measures program. Contrarily, debt-ridden Spain and Portugal are likely going to…

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