Bitcoin Could Prevent Future Economic Catastrophes in Greece and Worldwide
European leaders announced Monday morning that they had reached a deal meant to resolve Greece's debt crisis, The New York Times reports. The new bailout for Greece would involve both "serious reforms" and "financial support," said Donald Tusk, president of the European Council. Last week Greek voters issued a surprisingly loud and clear statement of....
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Analysts report that the aid package being offered to Greece is not functionally big enough to cover gaps in the future and that the country may be in trouble after accepting the deal. The austerity measures the package pushes, as well as other provisions within the deal, could cause civil unrest. This became obvious today as protesters took to the streets to express opposition to the aid package presently on the table for Greece. Among other things, the package requires tax hikes and cuts to pension packages, neither of which are popular even in the ruling party. Also read: How Bitcoin....
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....
Anyone with a brain can see the principle of the European Union is not necessarily beneficial to most member states. It is evident the financial sector is still going through a lot of issues as we speak. The next economic crisis may come upon us a lot sooner than most people anticipate. In fact, it appears things will take another turn for the worse where Greece is concerned. Moreover, the country violated the terms of the EU bailout with some of their recent developments. Introducing economic changes in a country suffering a significant crisis is never easy. For Greece, that situation has....
It might be too late for bitcoin to save Greece from its currency crisis, but the digital currency is evolving fast enough that there's a good chance it will help future crises. Christopher Mims, a writer for The Wall Street Journal, claims in today's edition that digital currency is "at an inflection point" and evolving faster than most people realize. "Whatever happens to bitcoin itself, the technology underlying it opens up previously unimagined possibilities for the future of just about anything humans exchange," Mims stated. For Greeks to get ahold of bitcoin, they need to buy euros,....
Greece has never been accused of being an economic savant over the last generation. Using the Drachma for the 3rd time from 1951 to 2001, it's value declined to the point where Greece joined the E. U.'s new multi-national Euro system in 2002. Greece followed up with three distinct recessions in each year from 2007 through 2009. This required a massive bail-out in 2010, and "austerity measures" ever since for the citizens to live up to, while the bankers who caused the issues continue to mismanage the economy unabated, asking for more loans as we speak. These consistent economic issues have....