By Mark Gongloff After this week’s political drama in Greece has faded, the EU and private investors still must come up with a way of rolling over Greek debt without triggering a default. And it increasingly looks like the plan being hammered out for that purpose will be bad for Greece. In a nutshell, the idea is that banks and insurance companies owning Greek debt will be able to trade half of the Greek bo ...

By Amitabh Pal, June 16, 2011 The global austerity agenda is encountering a hurdle in Greece: The Greek people aren’t prepared to put up with forced deprivation. In order to have loans to foreign creditors made good, international institutions, led by the European Union, are demanding ever-harsher assaults on Greek society. But the Greek people have fought back, protesting in huge numbers and causing the ne ...

Investment analyst Marc Faber explains in short the implications of sovereign debt for economies and societies worldwide: http://bit.ly/jynblm "Usually before countries default they'll print money. Then you'll have hyperinflation and that destroys essentially the middle class and the working class and benefits, say...I don't want to pick on Goldman Sachs, but it benefits the financial wizards, the speculato ...

EUI Working Paper, 2010 - "...Europe therefore needs a new political debate about how much it wants to allow markets to determine the fate of its citizens and countries". Learn more. http://cadmus.eui.eu/bitstream/handle/1814/14674/RSCAS_2010_77.pdf ...

By Jérôme E. Roos In the wake of the Greek and Irish crises last year, analysts predicted that the collapse of the eurozone might become the big story of 2011. But while our neighbors in North Africa and the Middle East have burst into full-blown revolution, all appears to be quiet on the Western front. Or does it?   Last Thursday, Moody’s downgraded Spain’s credit rating, sending shock waves through t ...