Syriza

Greece introduces capital controls; IMF says it needs to default

This morning, Greece introduced capital controls.  People can only withdraw €60/day ($65) from their bank accounts.  The government has also called a referendum on Sunday, after Eurozone talks on a new bailout package collapsed. The key issue is that Greece will never be able to repay its debts.  These are currently estimated at €322bn ($365bn) […]

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Greece and the Eurozone head for showdown over debt issue

We all learnt one crucial lesson from Syriza’s victory in the Greek election last week – voters can halt the European Central Bank (ECB).  Or in other words, protest coalitions can trump elite consensus.  In places like Spain and France, this effect may not work through immediately, but it is being absorbed. Thus Greece and the Eurozone crisis […]

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