As debt-ridden Greece leaves behind a year plagued with turbulence and uncertainty, investors seem more hopeful for the coming year. Although the troubled economy has somewhat stabilized, the country still faces uncertainty, especially with regards to its future in the Eurozone.
By Kit Gillet, The National
There was a moment this past summer, as Greeks overwhelmingly rejected in a referendum the deal put on the table by their country’s creditors, when it looked likely that Greece would become the first country to leave the euro zone.
By Michael Nevradakis, Truthout
Six years into Greece's economic crisis and following successive "bailouts," there still seems to be no light at the end of the tunnel.
By Desmond Lachman
It is said that those who do not learn from history are doomed to repeat it. Sadly, this adage appears again about to be proved true by the way in which the United States Congress is dealing, or more correctly not dealing, with Puerto Rico’s financial and economic crisis. Congress is acting in a manner apparently oblivious to Greece’s recent disastrous debt experience despite the many close parallels between the Puerto Rican and the Greek crises.
Fitch Ratings-London-16 December 2015: A new foreclosure framework will only offer limited benefit to Greek RMBS transactions as lenders are unlikely to increase foreclosures in an illiquid residential property market where house prices are still falling, Fitch Ratings says. But the threat of repossession may deter strategic defaulters, who appear to have contributed to persistent weakness in the Greek mortgage market, where early- and late-stage arrears have continued to rise in 2H15.