How Greece might switch back to the drachma

Jul 9, 2015

How Greece might switch back to the drachma

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With each day, the likelihood is growing that Greece’s financial catastrophe will force it out of the euro currency alliance and compel it to restore its old currency, the drachma. It won’t be simple. Even in a computer age, issuing a new national currency ...

Greek crisis poses major security risk for Europe

| Jul 9, 2015

Greek crisis poses major security risk for Europe

As a key security partner for the West and the prime route for migrants arriving in Europe, Greece poses a threat to more than the financial stability of the continent if its crisis deepens. All eyes this week are on whether Athens will finally ...

Greek crisis revives Polish debate over joining the euro

Jul 9, 2015

Greek crisis revives Polish debate over joining the euro

The possibility of a Greek exit from the euro is reviving debate in Poland about the wisdom of signing on to the joint currency, so much so that Poland’s president warned this week that his country risks becoming a political lightweight if it sticks ...

China stocks nosedive as regulator warns of 'panic'

Jul 8, 2015

China stocks nosedive as regulator warns of 'panic'

Chinese stocks dived on Wednesday, as the country’s securities regulator warned investors were in the grip of “panic sentiment” and the market showed signs of freezing up as companies scrambled to escape the rout by having their shares suspended. Beijing, which has struggled for ...

Jul 7, 2015

Poor EU nations take hard-line on Greece

The eurozone’s poorer former communist nations, having themselves endured painful reforms and austerity programs, are taking a hard line on Greece after its people voted to reject creditors’ bailout terms. Estonia, Latvia, Lithuania and Slovakia have long insisted they are too poor to pay ...

Jul 5, 2015

Top economists say 'no' is Greece's least bad option

While polls in Greece show the country evenly divided going into Sunday’s crucial bailout referendum, some of the world’s top economists are united in arguing that a “no” result is the country’s best — or its least bad — choice. Joseph Stiglitz, a Nobel ...