debating progressive politics in Europe and beyond
Greek voters gave their contradictory verdict: While 55% voted for parties that stood explicitly against the ‘bailout’ terms and conditions, a pro-’bailout’ government is about to be formed – such is the nature of Greece’s electoral system (which rewards the largest party with a bonus of 50 additional MPs in the 300 seat chamber). The [...]
While the punters speculate on the outcome of the Greek election on 17 June, in truth ‘Grexit’ has already happened. Because of massive withdrawals from the Greek banking system, the country is on emergency life support from the ECB. First, following the inconclusive May elections, the ‘troika’ decided that it would postpone the €48bn recapitalisation [...]
Sometime this European summer the Greek government will default on its euro debts and attempt to manage an exit from the common currency. This will not occur because people want it (though some do), nor because it is the wisest policy (it is not). Fault and exit will occur because they cannot be prevented. This [...]
Two myths about a Greek exit from the euro have recently gained traction. Both are misguided and both are extremely dangerous. Here are the reasons why. After the Greek parties failed to form a government and the country now heads towards new elections in June, everyone is talking about a possible exit of Greece from [...]
Everybody is saying it: Greece will go under and probably the euro with it. Indeed, not just on the Eurosceptic right but on the left too it has become oddly fashionable to welcome Greece’s exit from the euro. This is dangerous nonsense. If Greece leaves, the euro is almost certainly doomed. Nobody can be certain [...]
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