Debt restructuring is a component of crisis management and resolution, and needs to be treated in the context of the current economic conjuncture and vulnerabilities.
The United Kingdom has been accused
of “sleepwalking” into the Ukraine crisis – and the accusation comes from no less than the House of Lords, not usually considered a place of critical analysis.
For a long time, citizens of the United States have firmly believed that their country has an exceptional destiny, and continue to do so today even though their political system has become totally dysfunctional.
The world is clearly splitting into two parallel worlds, with each going their own way, in what we could call the ‘Acapulco paradox’.
At last, on Tuesday Feb. 24, the Eurogroup (of eurozone finance ministers) approved the Greek government’s commitment to a programme of reforms in return for extending the country’s bailout deal.
The European Union should not be afraid of the leftist opposition party Syriza winning the Greek election, but see it as a chance to rediscover its founding principle - the social dimension that created it and without which it cannot survive.
A sit-in protest by Syrian refugees on Syntagma Square opposite the Greek parliament in the heart of Athens has turned into a demonstration of the stalemate faced by both Greek as well as European immigration policy.
After the Italian sea search-and-rescue operation Mare Nostrum at a cost of nine million euros a month, through which the Italian Navy has rescued nearly 100,000 migrants – although perhaps up to 3,000 have died – from the Mediterranean since October 2013, Europe is now presenting its new face in the Mediterranean.
The new European Commission looks more like an experiment in balancing opposite forces than an institution that is run by some kind of governance. It will probably end up being paralysed by internal conflicts, which is the last thing it needs.
Plans by the Greek government to sell companies that handle the key resources of energy and water face serious obstacles and its policy to offer investors exceptional privileges in an effort to boost interest in privatisation is coming under strong pressure.
The evolution of immigration and border control policy in Greece and its interdependence with European funding suggests an agenda which has been decided above national legislatures with strong coordination between European political actors and economic interests, while ignoring the human suffering it produces.
A humanitarian crisis is unfolding in Greece and other recession-hit European countries as they undergo harsh austerity measures in exchange for a bailout. At the heart of it is the Troika, say trade unions, civil society and rights activists.
The start of Greece’s six-month presidency of the EU was marked by a ceremony Wednesday in the Greek capital attended by the EU commissioners. But protests were banned and there was no in-depth talk about the raging controversy over the bloc’s handling of the Greek debt crisis and the renewed concerns about the vitality of the Eurozone.
A Nov. 19 paper by the European External Action Service (EEAS), the EU diplomatic corps, considers the possibility of the European military getting involved in the south Mediterranean in an effort to curb the influx of irregular migrants and refugees into Europe.
Human rights groups have circulated evidence in the last few days indicating that Greece, Italy and Egypt illegally detain and push back Syrian refugees.