Tag Archives: Troika

Backgrounder on Greece (and the IMF and Eurocrats). A sad tale of elite rule and rent extraction off the back of ordinary workers with no power or influence — unless they rise up angry and are willing to pursue it.Michael Roberts BlogGreece: on paroleMichael Roberts

New Brave Europe ha pubblicato questa risposta al pezzo di Marco Revelli su il manifesto che polemizzava con Mélenchon e con il mio articolo su Micromega, questo l'incipit: "Dare a Tsipras quel che è di Tsipras. Una sinistra incapace di riconoscere i propri punti di riferimento e di dar conto del loro merito, pur senza rinunciare al dovere di critica, è destinata alla fine miserevole che ha fatto. Tre anni fa tutti a sgomitare dietro ad «Alexis». Oggi va di moda l’accusa di...

 New Brave Europe ha tradotto e pubblicato il pezzo sulla Grecia già uscito su Micromega online. Grazie all'amico Methew Rose. Sergio Cesaratto – Tsipras’s tie. What moral can we draw from the Greek crisis? July 15, 2018 Klaus Regling, the head of the eurozone’s bailout fund and a German, concerning the most recent EU “debt relief” for Grecce: “It is the biggest act of solidarity that the world has ever seen” (Reglings motto seems to be:...

Col titolo La cravatta di Tsipras. Quale morale dalla crisi greca? MicroMega on line ha pubblicato questo pezzo. La soddisfazione di vedersi pubblicati non è nell'articolo, ma nel veder passare il titolo proposto. E, come ho detto su FB, spesso scrivo solo per farmi un'idea veritiera delle cose, magari approssimativa, o almeno ci provo.   La cravatta di Tsipras. Quale morale dalla crisi greca? Ma che piccola storia ignobile che mi tocca raccontare… “Atene respira” recitava il...

The latest – EIB Investment Report 2017/2018 – published last week by the European Investment Bank tells anyone who cares to take those Europhile Rose Coloured Glasses off for just a second how deep the failure of the European policy making structures are and how long the negative impacts of those failures will resonate. This is the true ‘burden for our (their) grand kids’ sort of stuff. In claiming they had to run tight fiscal policy biased towards surpluses to avoid forcing the future...

By William K. BlackJanuary 30, 2017     Bloomington, MN The troika refers to the European Union (EU), European Central Bank (ECB), and the International Monetary Fund (IMF).  The IMF, traditionally, was the greatest proponent of any international entity of inflicting extreme austerity on nations suffering economic crises.  The IMF’s economists have increasingly reviewed the evidence and concluded that austerity reduces growth and that putting nations into inescapable debt traps is...

By William K. Black April 17, 2016     Bloomington, MN The old joke, that conveys a critical truth, is the poster that says “The daily floggings will continue until morale improves around here.”  The troika misses the irony in the poster, for it thinks that the answer to the eurozone nightmare problems caused by austerity is more austerity.  The latest example is three IMF stories that ran contemporaneously.  The IMF, again, lowered global growth forecasts.  Two, the IMF is calling for...

By Joseph StiglitzThe rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics. Of course, the economics behind the program that the “troika” (the European Commission, the...