Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Ladies and gentlemen, behold the first sighting of the new Greek drachma: Between June 28 and July 4 at a Hilton hotel in Athens, transactions on a Bloomberg reporter’s Visa credit card issued by Citigroup Inc. were posted as being carried out in “Drachma EQ.” The inexplicable notation — bear in mind, the euro remains Greece’s…
On Tuesday, Latvia’s central bank chief Ilmars Rimsevics called the introduction of a new currency in Greece the “most realistic scenario.” The country is in its second week of capital controls and banks remain shut in the wake of a referendum which saw some 61% of Greeks vote against the terms of the latest bailout…
German Chancellor Angela Merkel toasts with beer in Dachau, August 20, 2013. REUTERS/Michael Dalder Stop me if you’ve heard this one. The Greeks, Italians, Spaniards and Irish walk into a bar, where the French and Germans are the bartenders. It’s happy hour, and the Germans and the French are serving half-price drinks. Although everyone quickly…
By heeding their government’s advice and voting “No” in the referendum on Sunday, Greek citizens sent an unambiguous message. Much like the fictional Americans portrayed in the movie “Network” who threw open their windows and shouted out, “I’m as mad as hell and I’m not going to take this anymore,” the Greeks are demanding that…
On Sunday, Greek PM Alexis Tsipras put his political future and, more importantly, the future of the common currency in the hands of Greek voters. It was the political equivalent of pushing one’s chips all in at the poker table and after Sunday’s referendum, Tsipras appears to have been holding a better hand than Junker,…
Earlier today, as has become a symbolic custom, Tsipras spoke to Russia’s Putin by phone. Aside for the referendum, the topic of their conversation was unknown, but both sides rushed to note that financial aid was not among the topics of discussion, which assures it was. However, with the Greek negotiations still ongoing even if,…
With the only thing that matters in the hours ahead, at least until China reopens and the Pandamonium repeats, is the sheer chaos out of Greece which now literally changes the narrative by the minute, here is a convenient timeline of everything that has happened so far this morning starting with Varoufakis’ unexpected resignation and…
LONDON Oil prices fell more than 3 percent on Monday after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets, adding to concerns about demand at a time of global oversupply. The result of Greece’s referendum put in doubt its membership in the euro, pulling down the single…
(Recasts with new quotes, background) * German government says up to Greece to act to stay in euro * Says conditions for talks on new bailout plan not yet met * Finance ministry says Greek debt cut not on the agenda By Paul Carrel BERLIN, July 6 (Reuters) – The German government signalled a tough…
German Chancellor Angela Merkel will travel to Paris on Monday for talks with French President Francois Hollande to map out the way forward for Greece after voters upended more than five years of crisis-fighting by rejecting creditors’ terms for rescue aid. The trip, announced Sunday shortly after polls closed in Greece, is “to jointly assess…