Economists Disagree on Proposals for Alternative Currencies in Greece
The Greek crisis and the prospect of Grexit - the exit of Greece from the Eurozone and perhaps even from the European Union - continue to make headlines. The government of Alexis Tsipras and his euro-skeptic, anti-establishment party Syriza, is trying to negotiate solutions for the struggling economy of Greece that would keep the country in the E. U. and....
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CCN. LA reported on Monday about the 11th hour Eurozone emergency summit seeking a deal to prevent Greece from defaulting on her debt and toppling the area into an economic tailspin. But the European Central Bank, the International Monetary Fund and the European Commission, Greece's main creditors, are using the situation to push Greece and her citizens further into an economic corner. Greek Prime Minister Alexis Tsipras said in a tweet, this morning, that some creditors have not accepted Greece's proposals of reform-for-aid as he left for emergency talks in Brussels. The insistence of....
According to a Bloomberg report, the troika of International Monetary Fund, European Commission and the European Central Bank has rejected Alexis Tsipras' set of bailout proposals intended to keep the Mediterranean nation in the Eurozone. Greece's creditors passed on the revised set of proposals to the Greek government even as the Prime Minister expressed his shock at his own proposals being turned down. According to Agence France-Presse, Greece has rejected the counter-proposal. Greece is due to pay IMF $1.7 billion before its bailout package expires on June 30. Bitcoin Remains....
CNBC contributor Brian Kelly, the author of "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World," proposes a quick and simple bitcoin-like solution for Greece's troubled economy. Since the January elections that brought the "anti-establishment" Syriza party to power, Prime Minister Alexis Tsipras has been trying to renegotiate the Greek debt with the European Union (EU), but the country remains strangled by foreign debt. Rumors of a possible "Grexit," the exit of Greece from the EU, keep surfacing.Writing on CNBC, Kelly notes that Greece could stay in the....
Greece faces a €1.5 billion payment to the IMF expires on June 30, and to make matters worse The Eurozone portion of Greece's €245-billion bailout expires on the same day. This huge debt and interest is totally unsustainable for Greece to maintain and Greece has no more to give. This could mean Greece exclusion from the Eurozone. Would it be a good idea for Greece to renounce the euro and adopt bitcoin? This would mean giving up their sovereign monetary policy. However, the finance minister of Greece, Yanis Varoufakis, believes that because Bitcoin is deflationary, it would be bad for....
The crisis in Greece is unfolding so fast that new breaking updates are being published every hour. Yesterday, Greece became the first developed nation ever to default on the International Monetary Fund (IMF). Hours after Greece missed the deadline for its repayment to the IMF, European ministers will meet to discuss the Greek request for a new bailout, BBC News reports. The Financial Times reports that Greek PM Alexis Tsipras seems ready to concede on most outstanding differences between his government and its international bailout creditors. According to a leaked letter sent late Tuesday....