Papandreou Tells Greeks It’s Time To Grow Up

November 3, 2011

Papandreou told his fellow Greeks to make a choice and accept the consequences. It’s a gamble, but not an irrational one.

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Kicking The Umpire Out Of The Game

March 15, 2010

When Greece raised 5 billion euros (nearly $7 billion) in the bond market earlier this month, it had to offer investors an interest rate of 6.25 percent — nearly double what fellow European Union member Germany pays to borrow money. The difference is that the Greek government’s finances are, as we noted here months ago, a train wreck, while Germany is still a good credit risk. The perilous state of …

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Finance Oracles See Trouble Ahead For Greece

Finance Oracles See Trouble Ahead For Greece December 23, 2009

(Photo ©iStockphoto.com/mbbirdy) When most people think of Greece, they imagine warm ocean breezes and tranquil seaside fishing towns. But these days, when European leaders talk about Greece, the mood is anything but calm. After years of imbalanced budgets, government corruption and widespread tax evasion, Greece is now on the brink of a full-on financial crisis. The country’s debt totals 110 percent of gross domestic product. This year’s deficit is expected …

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