The Greek financial crisis is really a simple issue

The financial crisis gripping Greece is really not that complicated. Greece opted to join the Eurozone and replace its local currency, the drachma, with the euro in 2001. Its government then started tapping the Eurozone financial market taking out euro-denominated loans as part of its normal course of doing business. However, underneath all that, Greece’s […]

The #Philippines suffers from acute intellectual bankruptcy and a lack of common sense

[The following is a piece originally published in The Manila Bulletin on the 09th April 2000 and featured in Get Real Philippines on the same year. How many of the issues mentioned here remain the same unchanged ones today? Remember, this was written back in 2000.] * * * AN admired Filipino economist, based in […]

PNoy’s speech should be shut down the minute he attacks the Supreme Court #SONA2014

What further use to Filipinos is a president who had all but painted himself into a corner? That is essentially the way Philippine President Benigno Simeon ‘BS’ Aquino III will come across to the public today when he delivers his State of the Nation Address (SONA) to joint sessions of Philippine Congress. Rather than see […]

Europe deserves $1 billion more than Filipinos do

So now much of Europe and (maybe soon) the United States are now in the bizarre position of being potential candidates for intervention by the International Monetary Fund (IMF). The IMF for its part is ready to do just that and marshall its stash of (or, perhaps more appropriately, ready access to) dollar reserves to […]

Why is a $1bn deposit to the IMF such a big deal?

Over the last several days, I’ve been getting snippets of news and information lately about a USD 1 billion loan extended by the Philippines to the International Monetary Fund (IMF). The first I heard of it was in a “news” article that came across as a trumpeting of how the Philippines is now a “net […]