EPA/Katia Christodoulou
Cyprus is successfully exiting its bailout at the end of March after three years.
Image sourced from www.shutterstock.com
A timeline of 15 important events in the Eurozone’s economic history.
Protestors took to the streets in Brussels to send a message.
EPA
New research shows texting combined with rising levels of youth unemployment were primary drivers of the unrest that has unsettled Europe.
Reuters / Rafael Marchante
Like Greece and Spain, Portugal endured a bailout and austerity. But it has not seen the rise of a Syriza or Podemos equivalent.
Hamilton is shown whispering into Ben Franklin’s ear in Howard Chandler Christy’s depiction of the signing of the Constitution.
US Capitol/flickr
Alexander Hamilton and the policies he pursued as America’s first treasury secretary set the US on a course of national unity. That’s just what Europe needs today.
How to explain Greece’s bailout puzzle?
Greece puzzle via www.shutterstock.com
No one seems to really believe the latest bailout plan will work without debt relief. But the only way to get Greece to adopt essential reforms is to pretend it isn’t in the cards.
Will Greece’s asset fund turn into an investing piggy bank or another lost opportunity?
Piggie bank via www.shutterstock.com
Greece must sell €50 billion worth of government assets as part of its latest bailout. It could very well go wrong.
EPA/Etienne Laurent
Since the 1990s, the EU has been less about social integration and more about neo-liberal values.
Unfortunately, the eurozone doesn’t exactly fit together like a puzzle.
Euro puzzle via www.shutterstock.com
The last-minute bailout deal will keep Greece in the common currency, but at a cost of the dream that was the euro.
Greek"No" supporters celebrate referendum results.
REUTERS/Marko Djurica
The media predictions are dire, but the reality of the Greek monetary crisis may be less sensational.
Greece’s gross domestic product, shown here in 2010 constant dollars, has plunged since 2008.
RED St. Louis Federal Reserve Bank and Hellenic Statistical Authority
On Sunday, the citizens of Greece voted No on the country’s referendum to accept a package of money in exchange for further austerity measures. Now what? Every armchair economist from Iowa to the Aegean…
The new agora?
EPA/Alexandros Vlachos
Talk on the street is that nothing short of revolution will do after the referendum.
Outgoing Greek Finance Minister Yanis Varoufakis said he would ‘wear the creditors’ loathing with pride’.
Alexandros Vlachos/EPA/AAP
Ongoing negotiations between Greece and the troika are likely to prove futile - what’s needed is a complete rethink of EU’s dualistic system.
Varoufakis said he resigned to help the negotiations.
Reuters
Greek Finance Minister Yanis Varoufakis, who led a failed strategy to change the terms of Greece’s bailout, resigned Monday.
Syriza’s successful Oxi (No) campaign was a symbolic victory that will have little lasting impact.
Reuters
Heralded and mourned as historic, the so-called Greferendum was more about the survival of the Greek government and Syriza than anything else.
A newly confident Greece could find a path to stability.
Kay Nietfeld/EPA/AAP
Greece could default and refuse to leave the eurozone - it all comes down to what the European Central Bank does next.
No voters celebrate but many questions remain.
EPA/Yannis Kolesidid
Greece has voted resoundingly against the bailout terms set by the IMF in a historic referendum.
Many Greeks want to see their country stay in the eurozone, but fear yet another round of crippling austerity measures.
Yannis Kolesidis/EPA/AAP
Greece’s membership of the eurozone has been problematic from the beginning.
Some in Greece could soon be mourning the death of the Euro.
Orestis Panagiotou/EPA/AAP
Conflating economic policy with morality is what could ultimately bring the EU unstuck.
Sorry, no money today.
Reuters
The Greek government shut all banks in the country on June 29 after the European Central Bank capped emergency funding to the lenders. Cash withdrawals from ATMs are now limited to €60 a day (about US$67…