Links: 2010-02-11 – Greece, snow’s effect on jobs report and more

The latest on Greece, according to Le Figaro in France, is that the EU will announce an agreement on support for Greece. In the article, Hermann van Rompuy stresses that Greece did not ask for ‘financial aide,’ whatever that means. It sounds like some sort of support will be announced after the EU summit – what kind, and whether it is a ‘bailout’ remains to be seen.

In a Le Monde article, the Greek Prime Minister talks of "besoin du soutien psychologique et politique de l’Europe" i.e. the need for psychological and political support from Europe. Given similar comments from Joseph Stiglitz in the videos I posted on Wednesday and the Rompuy comments above, it sounds like the line going forward will be one of psychological and political support over financial support aka bailout. The theory is that Greece is not in a debt crisis but a crisis of confidence that can be remedied via psychological and political support. We all await the specifics.

Update: Neil Hume has details on an EU announcement here. If that’s all that’s coming, markets will be disappointed.

Greek crisis

  • Papandreou : "nous avons besoin du soutien psychologique et politique de l’Europe"
  • Le Figaro – Conjoncture : L’UE annonce un accord sur l’aide la Grce
  • Staatsverschuldung: Griechenland steht mit 302 Milliarden in der Kreide – Politik – International – Handelsblatt.com
  • nrc.nl – Economie – Bos: Nederland steunt IMF-hulp aan Grieken
  • FT.com – Tough love is best for Greece long term
  • BBC News – Greece’s complex economic fight
  • Greece, Goldman Spat Over Deficit Figures – Real Time Economics – WSJ
  • FT.com – Niall Ferguson – A Greek crisis is coming to America

     

    Finance and Economy

  • FT.com – Truckers index drives US GDP fears
  • Critics Slam Bank Lobby for Stalling Student Loan Reform | The Atlantic Wire
  • Snow Likely to Make Mess of Jobs Reports – Real Time Economics – WSJ
  • Is Summers Ready to Get Tough on Big Banks? – Economix Blog – NYTimes.com
  • FT.com – Corporate debt’s role in the eurozone recovery
  • Obama Says He’s ‘Fierce’ Free-Market Advocate, Rejects Critics – Bloomberg.com
  • Myth Diagnosis – – Megan McArdle – The Atlantic

     

    Other News

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  • Iran Mobilizes to Stifle Opposition Protests – WSJ.com
  • Management Secrets of the Grateful Dead – The Atlantic
  • Has Obama failed the Invictus leadership test? | Film | guardian.co.uk
  • China steps up Stern Hu bribe case – The Age
  • The Fight over Prices on the Internet – NYTimes.com
  • Former sex slaves demand apology | The Japan Times Online
  • India Defies Monsanto, Says No to GMO Crops « naked capitalism
  • Glenn Greenwald – Salon.com – TNR’s ugly and reckless anti-semitism games
  • Google Plans To Deliver 1Gb/sec Fiber-Optic Broadband Network To More Than 50,000 Homes
  • FiveThirtyEight: A First Look at Palin’s Primary Math
  • Stottern ist erblich – FTD.de
  • Buying Tix For Overbooked Flights Got Me Bumped, Well-Rewarded – The Consumerist

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