Update: Greece, Eurozone and the IMF

by Elliott Morss Earlier, I noted there were two parts to IMF Stand-By Program for Greece: austerity and increasing its competitiveness. However, by the beginning of 2012, the IMF had concluded that the austerity part of its plan for Greece had failed. Why? Because: the austerity measures were so extreme that initial efforts to implement …

A.I.G. and Greece: Comparing Bankruptcies

by Elliott Morss Introduction In the midst of the Greek crisis, a report was issued last week by a watchdog government agency assessing how the Federal Reserve handled the A.I.G. crisis. Remember that one? At one point, the Feds had ponied up $182.3 billion to save A.I.G. And let’s put this in perspective: so far, …

Portfolio: Preparing for Greece’s Failure

The financial news of the week again is about the eurozone and we are seeing lots of entities come up with lots of possible solutions about how to solve the eurozone problem. They all of course rest on what to do about Greece. The problem is, they are coming from the wrong angle. From STRATFOR’s point of view, Greece does not have a particularly bright future as a state before the eurozone crisis is taken into account.

Western Financial Support for Ukraine: The Greek Analogy (continued)

by Elliott Morss, Morss Global Finance Introduction In my last piece, I looked at the IMF/EU bailout efforts for Greece to see what can be expected as the West launches a bailout for Ukraine. And every day, what the West will do becomes clearer. Let’s back up to December of last year. At that time, …