southeastern europe

published in openDemocracy on 1 July 2015 The announcement of the decision of the prime minister of Greece in the early hours of last Saturday, to hold a referendum on whether Greece should accept the draft agreement of a new debt relief programme or not, took me by surprise.  Having been active in the Eurocommunist Left of the 1980s I was aware that the claims that SYRIZA saw itself as an upholder of that pro-European Left tradition were largely exaggerated, but despite my private doubts on this issue, I did not expect the agenda of the party to include the possibility of an exit from the Eurozone and, more importantly, a profound clash with Greece’s European partners.  So, last Saturday morning, as I was frantically going through news stories about the Greek debt crisis and what appeared to be the collapse of the negotiations between Greece and its creditors I came across various explanations about what had transpired.  Tsipras, some reports said, had been h...

Excellent, sober analysis of the Greek (Eurozone) crisis by Kevin Featherstone Angela Merkel is pushing Greece beyond the pain threshold This is a crisis made in Athens, but it is in no one's interest to drive Greece into political chaos Kevin Featherstone guardian.co.uk , Friday 30 April 2010 13.00 BST This week Greece and the eurozone entered an unknown time zone, of uncertainty and failure. The international financial markets are increasingly convinced that Greece will default on its debt. In the City, analysts estimate Greece will need aid of about €70bn (£60.6bn) this year, €60bn next year and €56bn in 2012. In "hedge fund" offices, the task for the Greek government appears overwhelming: its no longer if, but when it will default. But no one knows whether a default by Greece would require its exit from the eurozone. In effect, Greece already defaulted this week. As soon as its bonds were declared to be "junk" – with no ...