Grexit

Draghi’s morphine has stalled the Eurozone’s reform efforts

More than three years after the EU leaders agreed to establish a banking union for the Eurozone, and Mario Draghi announced that he was ready to do “whatever it takes” to save the euro it is time to take stock of what has been achieved so far in making [...]

Global Spectator, by Andrés Ortega Bad is better than worst, but Europe has lost out in the endeavour

The Eurozone, and by extension the EU, has avoided a serious trip-up with Greece, although the danger is by no means past on what will be a long and difficult road ahead, at a very high cost to the Greeks and to the European project itself. Nevertheless, the third [...]

Global Spectator, by Andrés Ortega The euro: uncertainty about tomorrow, but plans for 2025

It may seem a paradox: we do not know what is going to happen to the Greeks and the Eurozone in less than a week, but the EU’s institutions are already thinking and planning ahead for 2025. And yet, they have to do it, come what may as regards [...]

Global Spectator, by Andrés Ortega Greece can’t leave the euro without leaving the EU

When the European Commission says Greece’s membership of the euro is ‘irrevocable’ it is not expressing a political position but a legal reality. Such an eventuality is not foreseen in the treaties: it is legally impossible. The only way out of the Economic and Monetary Union (EMU) would be [...]
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