WBEZ | Euro http://www.wbez.org/tags/euro Latest from WBEZ Chicago Public Radio en Craig Wright: Don't just blame the Greeks for their debt crisis http://www.wbez.org/blogs/onstagebackstage/2012-05/craig-wright-dont-just-blame-greeks-their-debt-crisis-99687 <p><p><img alt="" class="image-original_image" src="http://www.wbez.org/system/files/styles/original_image/llo/insert-images/Greek%20Debt%20%28ap.Thanassis%20Stavrakis%29.jpg" style="float: right; width: 300px; height: 209px; " title="A woman passes in front of chart with the stock prices at the Greek Stock Exchange in Athens, Monday, May 7, 2012. (AP/Thanassis Stavrakis)" />There&#39;s a big debt crisis going on in Greece right now, one that so few people really understand that <em>This American Life</em> even teamed up with <em>Planet Money<a href="http://www.thisamericanlife.org/radio-archives/episode/455/continental-breakup"> </a></em><a href="http://www.thisamericanlife.org/radio-archives/episode/455/continental-breakup">for a whole episode to explain it</a>.</p><p>But you can skip that hour (sorry <em>TAL</em>!) because screenwriter and playwright Craig Wright&nbsp;has a shorter explanation of what&#39;s happened in Europe. And, he&#39;s aiming for German Chancellor Angela Merkel: &quot;It&#39;s not that you can&#39;t blame the Greeks. But don&#39;t you have to acknowledge, Angela, the forces that you fed into their current insufficiencies, especially since they have so much to do with you?&quot; Read an excerpt below or listen above:</p><p><em>So I wanted to talk today about the Greek debt crisis. When I looked at the news this week </em><em>&ndash;</em><em> and I don&#39;t look at the news that often, so this is really big </em><em>&ndash;</em><em> I noticed that the Germans had decided that the best way to deal with the current economic paranoia in Europe was to throw the Greeks out of the European Union.</em></p><p><em>Which many of you probably don&#39;t know, and so I looked it up: In <a href="http://topics.nytimes.com/top/news/international/countriesandterritories/greece/index.html">a summary on the </a></em><a href="http://topics.nytimes.com/top/news/international/countriesandterritories/greece/index.html">New York Times</a><em><a href="http://topics.nytimes.com/top/news/international/countriesandterritories/greece/index.html"> website</a> provided by Peter Poulos, the genesis of the Greek debt crisis was that they sort of binged on debt for the past decade and then in 2009 it all fell apart. And then the EU constructed two giant bailouts, when then created a bunch of internal unrest inside of Greece which then took the government down, so now the people of Greece no longer want to do the bailouts that the EU arranged, and so the Germans decided that the best thing to do was to kick them out.</em></p><p><em>This whole summary of the situation was written, I think, by Peter Poulos. It&#39;s not credited to him, but its sitting next to a picture of him next to a slideshow link where you can see all the cool vintage stuff hes bought in Athens while he&#39;s been stationed there.</em></p><p><em>Now you have to really appreciate </em><em>&ndash;</em><em> or hate </em><em>&ndash;</em><em> the irony or lack thereof of the </em>New York Times<em>, to put his sort-of shopping spree link next to his account of a giant economic global disaster. That being said, no one appreciates an amphora more than me so...Opa!</em></p><p><a href="http://thepapermacheteshow.com/" target="_blank">The Paper Machete</a>&nbsp;<em>is a weekly live magazine at the Horseshoe in North Center. It&#39;s always at 3 p.m., it&#39;s always on Saturday, and it&#39;s always free. Get all your</em>&nbsp;The Paper Machete Radio Magazine<em>&nbsp;needs filled&nbsp;<a href="http://www.wbez.org/tags/paper-machete" target="_blank">here</a>, or download the podcast from iTunes&nbsp;<a href="http://itunes.apple.com/podcast/the-paper-machete-radio-magazine/id450280345" target="_blank">here</a>.</em></p></p> Thu, 31 May 2012 10:07:00 -0500 http://www.wbez.org/blogs/onstagebackstage/2012-05/craig-wright-dont-just-blame-greeks-their-debt-crisis-99687 Europe’s economic crisis and the future of the euro http://www.wbez.org/worldview/2012-04-24/segment/europe%E2%80%99s-economic-crisis-and-future-euro-98508 <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/AP120412123206.jpg" alt="" /><p><p>As economic uncertainty continues to spread across Europe, it remains to be seen whether the euro can withstand the challenge. The economy has already taken a very public toll on the continent&rsquo;s political leaders. <a href="http://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CDIQFjAA&amp;url=http%3A%2F%2Fwww.ft.com%2Fcomment%2Fcolumnists%2Fmartin-wolf&amp;ei=bNaWT4aTF4OY8gSpiuS1Dg&amp;usg=AFQjCNFNbWv3AA4Q8O_W8bjHy_RrZpGp4A" onclick="window.open(this.href, '', 'resizable=no,status=no,location=no,toolbar=no,menubar=no,fullscreen=no,scrollbars=no,dependent=no'); return false;">Martin Wolf</a> is the chief economics commentator and the associate editor for <em><a href="http://www.ft.com/home/us" onclick="window.open(this.href, '', 'resizable=no,status=no,location=no,toolbar=no,menubar=no,fullscreen=no,scrollbars=no,dependent=no'); return false;">The Financial Times</a>.</em> He says although there has been popular opposition to the current policies, it&rsquo;s important not to exaggerate the significance of the political changes. Martin joins <em>Worldview </em>to make sense of Europe&#39;s financial crisis and offer his take on reasonable solutions for the region&#39;s economy.</p></p> Tue, 24 Apr 2012 13:58:00 -0500 http://www.wbez.org/worldview/2012-04-24/segment/europe%E2%80%99s-economic-crisis-and-future-euro-98508 Former IMF official says Greece should default and drop the Euro http://www.wbez.org/episode-segments/2011-07-07/former-imf-official-says-greece-should-default-and-drop-euro-88838 <img typeof="foaf:Image" src="http://llnw.wbez.org/segment/photo/2011-July/2011-07-07/greece1.JPG" alt="" /><p><p>Eurozone finance ministers and economists from around the world now argue over the best solution to Greece’s spiraling economic crisis. Some want more rigorous austerity measures, while others believe Greece should default on its debt and abandon the Euro. <a href="http://www.aei.org/scholar/72" target="_blank">Desmond Lachman</a>, former deputy director at the International Monetary Fund in its Policy Development and Review Department, tells us why he favors the latter. Desmond is now Resident Fellow at the American Enterprise Institute. His most recent article on the Greek debt crisis is <a href="http://www.american.com/archive/2011/july/a-tale-of-a-euro-exit-foretold" target="_blank">“A Tale of a Euro Exit Foretold”</a> in <em>The American</em>.</p></p> Thu, 07 Jul 2011 16:38:00 -0500 http://www.wbez.org/episode-segments/2011-07-07/former-imf-official-says-greece-should-default-and-drop-euro-88838