Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
The closest Greece has come to leaving the eurozone was at around 6am on Monday morning, just as dawn was breaking over Brussels. Alexis Tsipras of Greece and Angela Merkel, the German chancellor, decided after 14 hours of anguished talks that they had reached a dead end. With no room for compromise, neither saw any reason to…
Here’s a quick Politics 101 lesson for the #thisisacoup mob: Greece is not a direct democracy. It is a representative one. That means that the Greek people elect their governments to make decisions on their behalf. Referendums are not binding in Greece; they simply advise the government of the day on the views of the…
ATHENS Greeks greeted news of a deal with creditors on Monday with a measure of relief mixed with much anger, particularly at Germany, after it became clear Greece will have to swallow more austerity that could fracture the government and spark a backlash. A sleep-deprived Prime Minister Alexis Tsipras will fly back to Athens to…
The absence of a deal would, in our view, begin the path to Grexit. In that case, the press conference will probably be dominated by the ECB’s role in handling the situation. On the ECB’s specific role in a Grexit scenario, Mr Draghi said this week that if no deal is struck this weekend, the…
©EPA Greece on Monday caved in to an ultimatum from Germany and its other creditors and agreed to rush through long-resisted economic reforms in just three days in a desperate bid to secure a €82bn-€86bn rescue and stay in the eurozone. Worn down by a 17-hour eurozone leaders’ summit that capped a weekend of talks, Greek premier…
BRUSSELS Euro zone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euros bailout to keep the near-bankrupt country in the single currency. The terms imposed by international lenders led by Germany in all-night talks at an emergency summit obliged leftist…
Prime Minister Alexis Tsipras’ statement following the conclusion of the Eurozone Summit We have been fighting hard for six months now, and we fought until the end to achieve the best possible outcome, an agreement that will enable the country to get back on its feet, and for the Greek people to be able to…
Photo Euclid Tsakalotos, Greece’s new finance minister with Christine Lagarde, managing director of the International Monetary Fund, at the eurozone finance ministers meeting in Brussels on Sunday. Credit Francois Lenoir/Reuters BRUSSELS — European leaders demanded that Greece make new concessions and quickly adopt a host of economic policy changes as they worked into Monday morning…
ATHENS—Europe’s ultimatum to Greece, demanding full capitulation as the price of any new bailout, marks the failure of a rebellion by a small, debt-ridden country against its lenders’ austerity policies, after Germany flexed its muscles and offered Athens a choice between obeisance or destruction. Sunday’s statement on Greece by eurozone finance ministers will go down…
Angela, what’s the German word for getting kicked out of the euro? (Tobias Schwartz/AFP/Getty Images) Greece has offered an almost unconditional surrender on its bailout, but Germany might not accept anything less than a Carthaginian peace. In other words, a deal that not only forces Athens to submit, but also humiliates it in the process….