Sunday, February 15, 2015

Sunday roundup (02-15-15)

Greece, confident as EU meeting looms, sticks to no-austerity pledge (Reuters) Greece plays for time as bailout clock ticks down (Agence France Presse)

Greek Exit From Eurozone Would Be Worst Option, Says Bailout Fund Chief: Interview Comes Ahead of Meeting of Eurozone Finance Ministers in Brussels (The Wall Street Journal)

Greek Euro exit is 'inevitable', former UK Chancellor Ken Clarke warns: Britain must insulate itself from the effects of a 'Grexit', the Tory MP says, ahead of a tense meeting of eurozone finance ministers in Brussels (The Telegraph)

Eurozone must not allow Greece to become another Lehman Brothers: To many, Greece seems unimportant – just as the collapsed US bank once did. Would letting it go trigger a global crisis? (The Guardian)

Will Europe Be Engulfed By Massive Bank Runs And Economic Chaos? (King World News)

     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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