Unfortunately, the eurozone doesn’t exactly fit together like a puzzle.
Euro puzzle via www.shutterstock.com
The last-minute bailout deal will keep Greece in the common currency, but at a cost of the dream that was the euro.
EPA/Patrick Seeger
The Greek debt crisis is a complex economic and political issue. Here are five important points for understanding it better.
EPA/Patrick Seeger
While constructive Greek proposals are now a prerequisite to resolution, the eurozone must also reform itself.
Cash: not to be taken for granted.
EPA/Orestis Panagiotou
The euro remains fatally fragile so long as the eurozone lacks a mechanism for forgiving debt.
Greece’s gross domestic product, shown here in 2010 constant dollars, has plunged since 2008.
RED St. Louis Federal Reserve Bank and Hellenic Statistical Authority
On Sunday, the citizens of Greece voted No on the country’s referendum to accept a package of money in exchange for further austerity measures. Now what? Every armchair economist from Iowa to the Aegean…
The new agora?
EPA/Alexandros Vlachos
Talk on the street is that nothing short of revolution will do after the referendum.
Standing in line.
EPA/Alexandros Vlachos
Greek banks are running out of options, as cash reserves dwindle in lieu of more ECB emergency funding.
Varoufakis said he resigned to help the negotiations.
Reuters
Greek Finance Minister Yanis Varoufakis, who led a failed strategy to change the terms of Greece’s bailout, resigned Monday.
Celebrations in full swing after the No vote.
EPA/Yannis Kolesidis
The referendum is a victory against the political class that has driven Greece to the brink, and the eurocrats who refused to help.
Greece’s creditors now gather to decide the country’s fate.
Public Domain
Syriza and the Greek people may have won a victory against austerity, but their fate is largely out of their hands.
Syriza’s successful Oxi (No) campaign was a symbolic victory that will have little lasting impact.
Reuters
Heralded and mourned as historic, the so-called Greferendum was more about the survival of the Greek government and Syriza than anything else.
No voters celebrate but many questions remain.
EPA/Yannis Kolesidid
Greece has voted resoundingly against the bailout terms set by the IMF in a historic referendum.
The No vote won it.
EPA/Armando Babani
July 5, 2015
Costas Milas , University of Liverpool ; George Kyris , University of Birmingham ; James Arvanitakis , Western Sydney University ; Marianna Fotaki , Warwick Business School, University of Warwick ; Nikos Papastergiadis , The University of Melbourne ; Remy Davison , Monash University ; Richard Holden , UNSW Sydney ; Ross Buckley , UNSW Sydney , and Sofia Vasilopoulou , University of York
Academic experts respond to the No vote in Greece’s referendum on whether or not to accept a bailout offer from their international creditors.
Grexit puts everyone at risk.
Martin Capek
European leaders have consistently claimed that their anti-contagion measures would protect the rest of the eurozone from a Greek exit. This looks like pure propaganda.
No campaign voters burn an EU flag.
EPA/Armando Babani
Greeks face a big dilemma in the July 5 referendum. It’s been badly organised, democratically questionable and there’s a great deal at stake.
Greece owes what was once called a ‘man payment’.
EPA/Alexandros Vlachos
It might seem like Greece and Europe are arguing about money, but it’s really all about vengeance.
The cry from the streets.
Denis Bocquet
Debt relief should not be a divisive bargaining tool. Better that it is a formal part of a structured approach to risks in a currency union.
Greek voters have to choose between unfathomable consequences or ongoing misery. Some choice.
AAP/EPA/Alexandros Vlachos
A famed game theory parable involving mutually assured destruction explains the Greek debt crisis and could explain the outcome of the Greek referendum this Sunday.
Some in Greece could soon be mourning the death of the Euro.
Orestis Panagiotou/EPA/AAP
Conflating economic policy with morality is what could ultimately bring the EU unstuck.
Set in stone?
Robyn Thiessen
A Greek default and exit from the eurozone might cost the UK the odd billion here and there, but the real risks are in a nervous banking sector and the devastating potential of Brexit.