The banks declarations have been painfully exposed as lies, as Greece's economy has shrunk nearly one-third since it began following austerity policies.
Alexis Tsipras set his leftist government on a collision course with Greece's creditors, proclaiming an end to the era of austerity and "five years of bailout barbarity."
All eyes are on Greece, where left-wing Alexis Tsipras became the new prime minister on Monday, Jan. 26.
Tragic when it doesn't occur to an economics minister that needed investments in infrastructure and education could be made if only taxes on the upper class were increased.
The demand by the Ukrainian far right that UPA be recognized as a patriotic force means the results of World War II would be officially reinterpreted in favor of the Axis.
"The subjugation of democratic process to the markets was the reason why we have the crisis today...we predicted from the onset...that austerity-based policies would backfire."
Transport grinds to a halt and schools close as thousands march through Athens in protest.
Several European foreign affairs ministers are promising to help Ukraine obtain a loan from the International Monetary Fund.
Because Germany has the biggest economy in the EU, and is at the center of a "core" of wealthy nations that also use the Euro - France, Austria, and the Netherlands - Berlin largely calls the shots.
BERLIN - Two elements threatened the congress of The Left Party in Dresden over the weekend: water and fire.