€urosclerosis: Socialism meets reality in Greece

Your Editor has been somewhat remiss in keeping up with the Greek bailout story. From The Wall Street Journal: Greece Struggles to Get Citizens to Pay Their Taxes Tax Collection Is a Top Priority of Reform Plan From Athens By Matthew Karnitschnig and Nektaria Stamouli |Feb. 25, 2015 7:31 a.m. ET ATHENS—Of all the challenges …

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€urosclerosis: Schadenfreude!

From The Wall Street Journal: ECB Suspends Greek Collateral Waiver for Regular Lending Facilities Move Deals Blow to Greek Government’s Attempt to Rewrite Bailout Terms By Brian Blackstone | Updated Feb. 4, 2015 5:18 p.m. ET FRANKFURT—The European Central Bank on Wednesday said it would no longer accept junk-rated Greek government debt as collateral for …

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€urosclerosis: The Greeks have revolted

From The Wall Street Journal: Syriza Victory in Greek Election Roils European Debate Over Austerity Leftist Party’s Win Is Likely to Embolden Populist Movements Elsewhere in Eurozone By Marcus Walker | Jan. 25, 2015 8:33 p.m. ET BERLIN—For five years, Europe’s common-currency bloc has squabbled over whether the solution to its economic crisis lies in …

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€urosclerosis: The Greeks are revolting!

From The Wall Street Journal: Syriza Poised for Victory in Greek Election Vote Results Could Determine Country’s Future as Eurozone Member By Nektaria Stamouli and Alkman Granitsas | Updated Jan. 25, 2015 12:25 p.m. ET ATHENS—Greece’s radical leftist Syriza party was poised to win a historic victory in national elections Sunday as exit polls showed …

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€urosclerosis: Well, wahhh! The Greeks don’t want to pay their own bills!

It’s been a while since we’ve noted the economic problems of the eurozone, but those problems never really went away. From The Wall Street Journal: France and Germany Push Athens on Bailout Commitments French President Francois Hollande Raises Possibility of Greece Leaving Eurozone By William Horobin in Paris and Andrea Thomas in Berlin | Jan. …

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Economics 101: It doesn’t matter how liberal you are, eventually you have to do something radically conservative like pay your bills

We have previously noted, in our 18th Century Technology category, the financial travails of newspapers these days. But it’s not just newspapers, and even companies owned and run by liberals are not immune from market forces: Bloodbath at CNN, HLN: Axing of 550 Jobs ‘Imminent’ Today’s news of a coming bloodbath at CNN and HLN …

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€urosclerosis: Guess what? Austerity works!

It has been a while since we have addressed the crisis in Greece, the last article, , coming last August, and now we see this from The Wall Street Journal: Greek Budget Surplus Beats Target Prime Minister Antonis Samaras Says 2013 Surplus Will Be Nearly Double Its Target By Stelios Bouras | Feb. 16, 2014 …

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€urosclerosis: It looks like that Socialist government didn’t help France too much

From The Wall Street Journal: France Says It Will Miss Budget Deficit Targets Government Eyes More Savings, Fewer Tax Increases By William Horobin | September 11, 2013, 9:53 a.m. ET PARIS—France’s government said Wednesday it will miss its deficit targets this year and next due to a weaker-than-expected economic recovery. Finance Minister Pierre Moscovici said …

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€urosclerosis: Things are going to get better for Greece

From The Wall Street Journal: Greek Budget Shows Surplus Spending Cuts in Line With Commitments to Creditors By Stelios Bouras ATHENS—Greece’s central government, or “state”, budget showed a primary surplus for the first seven months of the year, turning around a steep deficit seen the previous year, the country’s finance ministry said Monday. The data …

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€urosclerosis: International Monetary Fund admits Greece was not qualified for bailout

From THE WALL STREET JOURNAL: IMF Concedes It Made Mistakes on Greece Fund Says It Bent Rules on Debt Relief, but Argues That Bought Time for Europe to Limit the Fallout By Matina Stevis in Brussels and Ian Talley in Washington | Updated June 5, 2013, 3:46 p.m. ET BRUSSELS—The International Monetary Fund has admitted …

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