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Greece's Default Nightmare: What You Need to Know
The European Central Bank will be tested in the next stage of this drama. And if a "Grexit" occurs, how will other eurozone members react?Samuel RinesHow will the Greek drama end? Now on the precipice...
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Greece: The First Developed Country in History to Default to the IMF
RIP European Union? James M. RobertsIts failure to make a $1.73 billion euro payment to the International Monetary Fund by June 30 makes Greece the first developed country in history to default to the...
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The Hidden Monster Behind the Greek and Puerto Rican Crises
The consistent if unstated theme of cases like Greece and Puerto Rico is the lack of economic growth necessary to support the debt load.Christopher WhalenThis week’s default by Greece is a considerable...
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The Real, Great Greek Dilemma
"If Greece leaves Europe, or is kicked out, the consequences might well be far beyond financial. Nations also react from pride, not just dollars, euros or drachmas."George PetrolekasDuring the Second...
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OXI: The Greek Debt Disaster Unfolds
Greece's small size keeps the global economic consequences manageable but the same can't be said within the strategic context, where small problems can have large ramifications...Stephen GrenvilleThe...
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Greece: The Morning After
"Greece faces the same problems and the same bad choices: staying within the Eurozone and agreeing to make additional sacrifices that produce even greater economic pain, or reverting to the...
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"On Greece, it is clear that Merkel has failed the test of statesmanship."
Make no mistake. The Greek referendum was a defeat of German leadership in Europe.Matthew Dal SantoIn Greece, with one in four unemployed, the people have voted (once again) for an end to...
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4 Big Lessons from the Greece Crisis
Greece needs the EU far more than the EU needs Greece.Milton EzratiEurope has countered Greece’s proposed bailout deal. Athens’ latest proposals had shown a greater willingness to compromise than...
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Greek Crisis: Syriza's Failure Is Europe’s Failure, Too
By not accepting Syriza's demands, Greece's creditors are putting the nation's political stability at risk.Peter HarrisSyriza has failed. Elected six months ago on a promise to ease the domestic costs...
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A Scary Thought: Could America Become the Next Greece?
"If U.S. policy makers and the public take away only one key lesson from what’s happening in Europe right now, it should be to put the budget on a path to balance during good times such as...
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Game Over: Greece Surrenders to Europe
"To remain afloat, the Greeks have handed over their sovereignty and the last vestige of their democracy."Samuel RinesGreece has surrendered the last of its sovereignty. After a referendum widely...
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Germany's Next Big Move: European Political and Fiscal Union?
The next German federal election is due in 2017. Could Europe be united on Merkel's watch?Matthew Dal SantoThe Greek parliament has voted through the preliminary conditions of a third bailout presented...
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Greece Debt Deal: Toward a More Perfect (and United) European Union?
The latest Greek debt deal suggests that the EU leadership is proceeding under the assumption that the EU will eventually be unified financially, even if such an evolution is politically impossible...
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Iceland’s Crash and Stunning Recovery: Lessons for Greece?
"Iceland’s leaders defied the austerity orthodoxy, and to good effect....[but] alas, the Icelandic remedy won’t revive Greece."Rajan MenonIn Independent People, the best-known work of Iceland’s Nobel...
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Puerto Rico's Debt Dilemma: America's Little Greece?
Can the small island territory bounce back?Samuel RinesPuerto Rico distills 70 percent of the rum consumed in the United States. We might surmise that both borrowers and lenders were imbibing too much...
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Greece's Austerity Deal: Welcome to Power Politics in the Eurozone
"What is happening is that the age-old logic of power politics is undermining the European project of transnational integration on equal terms..." Sean MirskiAndrew J. O'ShaughnessyEven as new dramas...
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Greece: ISIS's Gateway to Europe?
The country has a long history as a staging ground for terrorist operations.Olivier GuittaIn the past few months, Islamic State has either directed or inspired major terror attacks in Sharm el Sheikh,...
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The Balkans Suffer for the EU's Refugee Mistakes
Europe's Turkey deal does Serbia and Macedonia no favors. Stephen BlankThe Balkans are burning. Europe’s refugee crisis has now entwined with the general crisis of governance afflicting the Balkans,...
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The Greece Trap: More Bailouts Don't Solve Athens's Troubles
Greece will continue to be a nuisance to all of Europe.Scott B. MacDonaldThe May 24, 2016, agreement between Greece and its creditors is the southern European country’s third bailout. The European...
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Bigger than Brexit: This Could Be the Start of an EU Crack-Up
There’s more uncertainty on the way.Stephen McGlincheyBrexit is a fascinating prospect. The idea of a member state potentially leaving the European Union is new terrain—at least to the degree that it...
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