Greece

A bailout that hurts the Germans but doesn’t help the Greeks

As long as countries such as Greece are joined with Germany in a monetary union, this monetary union will not work. Both of them cannot be members of workable monetary union at the same time. It is high time for one of them to leave. [...]

Europe’s slow, painful death

There is something comical about current talk about a potential Greek bankruptcy. No, the state of Greece’s public finances is certainly no laughing matter. But it is funny how politicians and financial markets are getting excited about this as if it were news. [...]

The euro is a failed experiment that should be cashed in

Greece's budget problems are not just a worry for this small economy at the periphery of the European Union. It is an acute embarrassment to European elites that pushed through monetary union for political reasons. If they had only listened to economic advice they would have spared their countries a costly economic adventure. [...]

Greek tragedy for the world economy

There is a real possibility that some countries have overstretched themselves so much that they cannot service their debt in the near future. It now looks more like a question of ‘when’ rather than ‘if’ that will happen. We are anxiously awaiting the next act of this Greek tragedy. [...]