Tag Archives: Eurozone

Economy, International, News, Politics

‘Contingency plan’ needed for Greek eurozone exit – British govt

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The UK is preparing for a possible Greek exit from the eurozone by taking measures to ensure British banks and companies are not exposed to risk.

Prime Minister David Cameron discussed plans to prepare the UK for a Greek exit from the eurozone with senior Treasury and Bank of England officials at a meeting on Monday.

They debated the possible impact an exit would have on markets and considered potential contingencies for the British businesses thought to be exposed to financial risk.

The meeting follows comments by the former chairman of the US Federal Reserve, Alan Greenspan, who told the BBC: “I believe [Greece] will eventually leave.”

Read more » http://rt.com/uk/230603-uk-begins-preparations-grexit/

Economy, International, News

Is Germany Already Signalling The Complete (Economic) Collapse Of The European Union?

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by Sprout Money

In an attempt to try to divert a looming economic stagnation in the European Union, some leading German and French economists have launched some plans to try to revive (read: ‘resuscitate’) the economy of the Eurozone by tackling two issues which might have deteriorated the economic situation in the currency bloc.

Enderlein, an associate at a German school of Governance and Pisani, member of a French think thank have announced some ideas focusing on solving the issue of the rigid French labor market and the lack of government spending on infrastructure projects in Germany. This could be the perfect time to push some of these ideas through as the next elections in both countries are still 2.5 years away which means there’s plenty of time to implement new measures and restoring the popularity of the politicians before the next elections.

Read more » Zero Hedge
Learn more » http://www.zerohedge.com/news/2014-12-14/germany-already-signaling-complete-economic-collapse-european-union

International, Random

Why Germans Work Fewer Hours But Produce More: A Study In Culture

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When many Americans think of Germany, images of WWII soldiers and Hitler often come to mind. But what many people don’t realize is that Germany is the industrial powerhouse of Europe, and is a leading manufacturer of goods for export to developing Asian nations. We don’t hear about the superiority of German engineering in Volkswagen commercials for nothing!

The economic engine of the EU, Germany single-handedly saved the Eurozone from collapse in 2012. At the same time, German workers enjoy unparalleled worker protections and shorter working hours than most of their global counterparts. How can a country that works an average of 35 hours per week (with an average 24 paid vacation days to boot) maintain such a high level of productivity?

Read more » KNOTE
http://knote.com/2014/11/10/why-germans-work-fewer-hours-but-produce-more-a-study-in-culture/

International, Politics

Left-wing Greek politician Alexis Tsipras says that austerity will send Europe “directly to the hell”

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Alexis Tsipras: Austerity will send us ‘directly to the hell’

By Lucky Gold

Going directly to the hell

Alexis Tsipras, head of Syriza, Greece’s extreme left-wing political party, appeared on Amanpour Wednesday.

Speaking from Athens, where he currently leads in the presidential polls, Mr. Tsipras responded to German Chancellor Merkel’s ultimatum – either Greece seeks economic reform and embraces austerity, or it will be shown the door of the European Union.

“I don’t know what Madame Merkel wants to do but I know what we want to do,” said Tsipras. “We don’t want outside the Eurozone. But we believe that Madame Merkel put the euro and the Eurozone in big danger by keeping these austerity measures.”

He added, “We want to change the austerity measures in Greece, also in Europe. We want to do this with the incorporation of other forces and people of Europe, the people who want a big change. Because everybody now understands that with this policy we are going directly to the hell. And we want to change this way.”

Rich people to buy everything with euros

He was asked the consequences if Greece abandons the euro and returns to the drachma as its currency: “If Greece goes back to the drachma, the second day the other countries in Europe will have the same problem,” said Tsipras. ….

Read more » CNN