Some 75 years in the making, the eurozone as it currently exists has generally succeeded in its aims of establishing shared institutions, political constraints and economic benefits: a single currency, open borders, free trade agreements—and until 2008—flourishing growth. But cracks that began showing throughout 2015 this year show no sign of closing.
Greece reached a deal with its European creditors Monday, pledging stringent austerity to avoid an exit from the euro and the global financial chaos that could have followed
On his 10-year trip home, the Greek hero Odysseus at one point had to steer his ship and crew between Scylla, a six-headed monster, on one side of a narrow stretch of water and the whirlpool Charybdis on the other
If Greece’s financial crisis deepens, as many believe it must, he can feed his children and grandchildren with the bounty of the land in this proud village high in the mountains of the Arcadia Peloponnese
There’s no “January effect” in sight, as financial markets have begun 2015 as if it were mid-October last year. “Risk-off” gripped markets as oil continued to plunge while deflation in the eurozone and the threat of Greece’s exit from the eurozone came to the fore once again.