By Ellen Brown, Web of DebtAug 2, 2015
In the modern global banking system, all banks need a credit line with the central bank in order to be part of the payments system. Choking off that credit line was a form of blackmail the Greek government couldn’t refuse. Dig deeper ( 7 Min. Read )
Alexander Reed Kelly / TruthdigJul 29, 2015
Greece’s former finance minister had a contingency plan if the country’s creditors shut down its banking system and blocked its ability to do business with other countries, as they eventually did. And he’s being pilloried for it. Dig deeper ( 2 Min. Read )
Alexander Reed Kelly / TruthdigJul 6, 2015
Despite his country’s decisive rejection of the European Union’s terms for remaining in the eurozone, the Greek finance minister has quit his post, citing an unwillingness on the part of some EU ministers to negotiate with him. Dig deeper ( 1 Min. Read )
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Alexander Reed Kelly / TruthdigApr 22, 2015
Greece's new left-wing, anti-austerity Syriza Party raises concerns over international creditors’ demands to restructure the country's labor market and curtail its pension system in exchange for a new package of bailout funds scheduled for release Friday. Greek Finance Minister Yanis Varoufakis speaks with “Democracy Now!” Dig deeper ( 9 Min. Read )
Alexander Reed Kelly / TruthdigMar 28, 2015
Their country would stop cooperating with creditors if negotiations failed and aid was not forthcoming, government leaders said as they submitted a long-awaited list of 18 policy reforms to eurozone administrators. Dig deeper ( 1 Min. Read )
Alexander Reed Kelly / TruthdigMar 18, 2015
German media pounced this week on footage of Greek Finance Minister Yanis Varoufakis raising a middle finger for foreign debt managers during a presentation on his country’s debt crisis. The man who filmed the talk says the clip was taken out of context to divert public attention from the substance of the crisis. Dig deeper ( 1 Min. Read )
By Ismael Hossein-zadeh, CounterpunchMar 6, 2015
For the anti-austerity struggle in Greece and elsewhere to become effective and sustainable, it must be raised from the national level to the international level. Dig deeper ( 11 Min. Read )
Alexander Reed Kelly / TruthdigFeb 25, 2015
“The finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich,” says economist Michael Hudson (not pictured) of the ongoing confrontation over the Greek debt crisis. Dig deeper ( 7 Min. Read )
BLANKFeb 22, 2015
After the financial troika triumphed over the Greek government in debt negotiations last week, Germany's veteran minister “indulged himself with some patronizing comments,” observed economics correspondent Phillip Inman at The Guardian. Dig deeper ( 2 Min. Read )
Alexander Reed Kelly / TruthdigFeb 21, 2015
“The rightwing orthodoxy that dominates thinking in Brussels has asserted itself over the hapless Greeks,” writes economics correspondent Phillip Inman at The Guardian. Dig deeper ( 2 Min. Read )
Alexander Reed Kelly / TruthdigFeb 20, 2015
Greece's anti-austerity party has declared itself willing to sign the leaked “Moscovici document," which a central committee member says defangs the Greek government in its struggle against its creditors. Dig deeper ( 1 Min. Read )
Natasha Hakimi Zapata / TruthdigFeb 17, 2015
Eurozone finance ministers have designated Friday as the deadline for the country to accept yet another austerity-filled deal, but Greek Finance Minister Yanis Varoufakis has made it clear he will not rest until an "honorable agreement" is negotiated. Dig deeper ( 1 Min. Read )
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