At the time of writing, with over 57% of the Greek referendum result known, it appears the result is 61% no and 39% yes. Today’s dramatic result is a wake-up call for the failed EU Establishment. Even the most vulnerable small nation will not be bullied by supranational authorities. The result reflects the politics of neither left nor right but the democratic rejection of an imposed solution to the country’s problems. Whatever we may think of the politics and economics […]
Tags: Democracy, EU, Greece, Parliament, Referendum
My Cobden Centre and Cobden Partners colleague Gordon Kerr appeared this morning on Bloomberg to explain why the Greek bailout will fail: As I have said in debate, in the context of using the IMF to facilitate bailouts: …If this is not the time of all times to question the fundamental basis of our financial system, I do not know when we ever shall. … To conclude, we are in danger of simply kicking a can down the road and, […]
Tags: Bailout, Credit, economics, Greece, interventionism, Video
Via BBC News – Greece MPs pass austerity plan amid violent protests: Tens of thousands protested in Athens, where there were widespread clashes and buildings were set on fire. Violent protests were reported in cities across the country. Protesters outside parliament threw stones and petrol bombs, and police responded with tear gas. Scores of police and protesters were injured. Prime Minister Lucas Papademos urged calm, insisting that the austerity package would “set the foundations for the reform and recovery of […]
Tags: Books, Economy, Greece, Ideas
A fascinating perspective from Robert Thorpe at The Cobden Centre – The consequences of the impending national bankruptcies: The governments of Portugal and Ireland are waiting for Greece to default. If that happens then it will likely trigger the bankruptcy of several European banks*. This is the “Second Lehmann Brothers” the UK press have been discussing that could cause another financial crisis. I think such a crisis is likely to happen, but for political reasons more than economic ones. If one […]
Tags: Cobden Centre, debt, default, economics, Greece, Hayek, Ireland, Monetary Policy, Portugal
There comes a moment in any decent tragedy when the penny finally drops. The light breaks. The protagonist suddenly realises what a chump he has been – that he has somehow managed accidentally to marry his mother and kill his father – and that all his assumptions about his life are upside down. And the really awful thing about the tragedy now playing on the streets of Athens is that we haven’t even reached that bit yet. Read more via […]
Tags: Bailout, economics, euro, Greece, Incompetence
Each year, the good people of High Wycombe weigh the Mayor, the councillors and the MP to check who is gaining weight at taxpayer expense. It’s a magnificent idea but strangely my Westminster colleagues seem reluctant to institute the tradition on Parliament Square. Unfortunately, I put a little weight on in my first year, it turned out. Here’s me making the most of being booed as a pantomime villain after the fateful cry of “and some more!” Happily, the weight […]
Tags: Boats, Catamarans, Europe, Greece, Sailing, Vassiliki, Weighing In, Wildwind, Wycombe
“It is not clear how you would go about working out how much better off a household is from not having a Greek-style meltdown,” said Mr Browne. via FT.com / UK / Politics & policy – Equality fears add to Budget woes.
Tags: Budget, economics, Greece, Social Justice
Via British taxpayers ordered to bail out euro – Telegraph: All 27 EU finance ministers have been summoned to Brussels on Sunday to sign up to a “European stabilisation mechanism. Britain will be unable to veto this as it will be put through under the “qualified majority voting” system. And the mandate for a Labour Chancellor to sign up to this is what? Interested readers may wish to see The Cobden Centre’s posts on Greece and my serialisation of The Theory […]
Tags: debt, Democracy, economics, EU, euro, Greece, TMC
Wildwind 200, originally uploaded by stevenjbaker. Wildwind 213, originally uploaded by stevenjbaker.
Tags: Greece, Wildwind, Windsurf
Wildwind 147, originally uploaded by stevenjbaker.
Tags: Greece, Wildwind, Windsurf