How Bitcoin Could Prevent a Future Greece
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,....
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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....
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 support to Greek Prime Minister Alexis Tsipras, and defiance to European authorities and the International Monetary Fund. In the referendum celebrated on July 5, the Greeks said no to the bailout deal proposed by the country's creditors. The....
Yesterday, Bitcoin Magazine reported that Greece had closed its banks and imposed capital controls to prevent financial chaos after the breakdown of bailout talks with its international creditors. The decision came at the end of a weekend that brought Greece closer to "Grexit" - the potential exit from the Eurozone and perhaps the European Union (EU) itself - and confronted Europe with a serious crisis. Today, Jose Pagliery, the author of "Bitcoin - And the Future of Money," reports on CNN Money that Greeks are rushing to bitcoin. The article includes testimonials from top bitcoin....
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....
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....