Sunday, February 8, 2015

Sunday roundup (02-08-15)

Defiant Greek PM sets up EU clash with bailout rejection, austerity rollback (Reuters) Prime Minister of Greece Will Not Prolong Bailout (The New York Times)

Tsipras favours Greek jobless over creditors in defiant policy speech: Prime minister says government’s first priority is to tackle humanitarian crisis caused by years of austerity (The Guardian)

Greek finance minister says euro will collapse if Greece exits (Reuters)

Alan Greenspan predicts Greek exit from eurozone inevitable: Greenspan said it was "just a matter of time" before everyone recognized an exit from the Eurozone as the best remedy to the Greek debt crisis. (United Press International) [And he adds: "The problem is that there there is no way that I can conceive of the euro of continuing, unless and until all of the members of eurozone become politically integrated - actually even just fiscally integrated won't do it."] (The BBC)

Deflation set to hit the UK for first time in more than 50 years: Bank of England set to confirm period of falling prices is on the cards in official forecasts (The Daily Mail)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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