Tag Archives: loans

Should we postpone Greek default till November?

It really looks like we are not learning from our mistakes. This whole situation between Greece and its international creditors is becoming ridiculous.

Here, the two points that are striking to me:

  1. We have learnt nothing from economics. How come that current negotiations keep on discussing and putting forward economic provisions that proved to be wrong? (and by wrong here I mean that had pro-cyclical effects, i.e. contributed to recession rather than to growth and prosperity)
  1. We have learnt nothing from politics. How come that we haven’t realized yet how bad it is to continue with externally imposed measures on a country and its population? (and by bad here I mean that it reinforces, gives arguments and vigor to those extremist or Eurosceptic forces which are threatening European integration and are growing in several countries)

I will discuss these two points in more detail and then move on to see whether it is possible to find some points on which there is agreement and propose the establishment of a table on investment for Greece.   Continue reading

The Divine Path Towards IMF’s Money

by Romain Gustot

blog 5The revolution in Egypt has brought about some important changes in the relation between the new decision-makers and the international institutions. One of the best illustrations is the ever-changing attitude of the Egyptian government toward the EU and the International Monetary Fund’s (IMF) money. On December 20th 2012, Egypt has finally committed itself to accept the $4.5 billion loans from the IMF in order to straighten its financial situation. Van Rompuy also announced last Sunday 13 January that the EU offers Egypt 5 billion euros ($6.7 billion) in grants and loans stressing that a deal with the IMF was a condition to trigger additional financial support.

This contribution was posted on the ARTE Blog; consult here