Exit polls put Syriza on course for victory
The exit polls put the far-left party Syriza on track to win the Greek election. If the predictions hold this is an earthquake: for Greece, for the eurozone and for centrist politics.
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The exit polls put the far-left party Syriza on track to win the Greek election. If the predictions hold this is an earthquake: for Greece, for the eurozone and for centrist politics.
The European Central Bank enters the last chance saloon as it prepares to pump over one trillion euros into the Eurozone’s fragile economy – can it possibly work?
The European Central Bank will pump 1.1tn euros (£840bn) into financial markets until September 2016 in a last-ditch attempt to prevent the fragile eurozone economy from grinding to a halt.
For all its recent moderation, and the clear professional expertise of its economics team, no party like Syriza has ever been in power in a European democracy.
They spend their lives dealing, trading, monitoring and watching. Yet last week, when the Swiss Central Bank detached the Swissie from tracking the Euro, it turns out they knew nothing.
The liner is sinking and after some delay the captain orders: launch the lifeboats. But, he says, the first, second and steerage class must each travel in separate lifeboats. If the lifeboats take on water, the passengers are instructed not to help each other, since this would violate the principles of the ship – which…
If it sounds like a multiplayer 3D chess game, then that’s what it really is. The technical term for it is currency war.
Exclusive: as inflation drops to 0.5 per cent, we reveal the contents of Bank of England Governor Mark Carney’s explanatory letter to the chancellor (as imagined by Paul Mason).
The populist left has begun from a recognition that – in the highly marketised, globalised and granular economy of the past 25 years – social justice begins small and from below.
Whether the next Greek government is a revamped coalition or one led by the radical left opposition party, it will face the same devastating debt baggage.
The Greek government is gambling that voters will reel back from putting the untested and inexperienced Syriza in power.
Had Osborne’s 2010 predictions actually happened, the deficit would be small, the debt falling, and the much vaunted rebalancing of the economy would have taken place.
Germany’s economy is spluttering, deflation is growing and the UK’s FTSE is going nowhere – did the post-Lehman crisis ever go away?
Germany suffers its sharpest drop in industrial production since 2009 – boosting fears that the EU’s economic powerhouse could head for recession and trigger a crisis across Europe.
As the Eurozone project goes on failing, it is dragging the institutions and economies of Europe into a zone of disrepute that will drive anti-EU sentiment here.