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Articles on Eurozone crisis

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Many are ready to call it quits with the euro, but down that road lies nothing good. Reuters

Path to Grexit tragedy paved by political incompetence

An analysis conducted in 2007 showed how severe the consequences would be if a country left the euro. How have eurozone officials let it get this far?
With a temporary EU debt deal done, Greek Finance Minister Yanis Varoufakis must now deliver his economic reform plan. Stephanie Lecocq/EPA/AAP

Greece stares financial apocalypse in the face, and retreats

Crisis postponed. On Friday, Greece, the European Union (EU) and the International Monetary Fund (IMF) brokered a four-month extension of bailout loans to the newly-installed government of Alexis Tsipras…
Partied too hard? Julian Smith/AAP

Australia must prepare for the mother of all hangovers

You know Australia’s in trouble when the Reserve Bank cuts interest rates. Last week, the central bank did precisely that, in belated recognition of the income recession that has struck. Gross domestic…
Playing with fire? Michael Kappeler/EPA/AAP

The next card Yanis Varoufakis will play

Decades ago, before Yanis Varoufakis became the rock-star finance minister of Greece, he and I developed some game-theoretic models of macroeconomics. The gist of the work was this: for monetary authorities…
How much longer will both flags fly over the Acropolis? Reuters

Grexit déjà vu: is Europe really ready to let its Grecians go?

For faithful followers of the European economy, it feels like déjà vu all over again. Turmoil in Greece is raising doubts about the country’s continued membership in the eurozone. The specter of a “Grexit…

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