Greek Referendum Tempts Economic Disaster

It’s understandable why Greek Prime Minister George Papandreou wants to hold a referendum before implementing draconian financial restraints that will cause riots, clashes with police, car burnings, acts of vandalism, and anarchy. He knows what has to be done, but undoubtedly supposes that …

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Written by Peter Worthington on Thursday November 3, 2011

Don't Praise the Greek Debt Deal

Whether today’s announcement that holders of Greek sovereign debt have agreed in principle to a 50% haircut on the face value of the instruments raises some critical questions. On the surface, with the notion of first-loss guarantees of new debt taking shape, this addresses the problem of …

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Written by Jeff Cimbalo on Thursday October 27, 2011

Greece: The End of the Beginning

A deal on the Greek debt may or may not be helpful, but it certainly is clarifying. Now we can begin to understand: the Euro crisis is not about Greece, and it's not even really about European government overspending. It's about the negative consequences of building a monetary union without a …

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Written by David Frum on Thursday October 27, 2011

Alan Greenspan: Wrong on the Euro

Former Fed Chairman Alan Greenspan has been reenforcing the conventional wisdom that the current eurozone debt crisis can be traced to a strong> north-south cultural divide

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Written by Jeff Cimbalo on Wednesday October 26, 2011

Save the Euro? Could be Illegal

At some point in this crisis, the eurozone is going to have to decide whether it wants to have a solvent euro for the moment in part of the Union, or a lawful and democratic Union in all of it. The EU is groping for ways to bail out a list of states that includes Greece, Italy, Portugal, …

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Written by Jeff Cimbalo on Tuesday October 25, 2011

Greece Defies Reform

Back in May of 2010 it became clear that Greece could no longer finance her debt and her budget deficit through the markets. Since then the nations of the European Union (and the IMF) have covered the borrowing needs of Greece with new loans. This helping hand was conditional, the Greek …

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Written by Napoleon Linardatos on Tuesday September 20, 2011

Let's Call it Hurricane Euro

In my Marketplace column , I ask why no one is preparing for the coming collapse of the Euro: But why is it only weather stories that command such breathless attention? Meanwhile, the world's largest currency union -- the euro -- continues to careen toward disaster. The euro's travails …

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Written by David Frum on Thursday September 1, 2011

Be Euro-Scared, Very Euro-Scared

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Written by David Frum on Thursday August 11, 2011