The Guardian: Eurozone struggles to find joint response to Greek referendum
Heads of governments at odds as Germany and European commission let Greece stew while France, Italy and Spain are impatient for a deal
Germany and France scrambled to avoid a major split over Greece on Monday evening as the eurozone delivered a damning verdict on Alexis Tsipras’s landslide referendum victory on Sunday and Angela Merkel demanded that the Greek prime minister put down new proposals to break the deadlock.
As concerns mount that Greek banks will run out of cash, and about the damage being inflicted on the country’s economy, hopes for a breakthrough faded. EU leaders voiced despair and descended into recrimination over how to respond to Sunday’s overwhelming rejection of eurozone austerity terms as the price for keeping Greece in the currency.
Update #1: Germany, France press Greece to make fast, credible proposals -- Reuters
Update #2: Greek PM Tsipras races to restart talks after vote win -- AP
WNU Editor: I am not optimistic on Tuesday's talks between the Greek government and EU representatives. The Greek Prime Minister may be basking in his referendum win .... but he needs money .... and the bankers and politicians that Alexis Tsipras must face to secure more loans and aid are not going to be swayed by what the Greek voters may want .... especially when the message that the Greek voter is now sending out is one in which they do not want to pay their debts, but they certainly do want to borrow more money.
2 comments:
A really big game of "chicken". Will lack of cash make Tsipras bow before the EU crumbles? Watch the markets. They dive then slowly and erratically rise. You can almost hear behind the scenes the words of reassurance and the pitter patter of the little feet of money scurrying here and there. While the media will air constantly the bank lines and rumors of financial desolation in Greece. Like I said this is far from over. Putin has yet to be heard from and he will be. Look around the world for who wants to and can buy a friend (Greece).
As we both know James .... he who has the gold dictates the rules .... and in Europe it is Germany. But it also true that Chinese and Russian business interests are buying key parts of Greece's infrastructure right now, and when there money is coming into play you can feel the political weight behind it.
Post a Comment