Washington Post: Europe gives Greece 5 days to avoid bankruptcy
ATHENS — An emergency summit of European leaders called to salvage Greece’s financial rescue broke up acrimoniously late Tuesday night, with officials saying the country now has just five days to avoid bankruptcy.
Following a day’s worth of talks aimed at finding a way out of months of bitter deadlock, European leaders were scathing in their assessments of Greece’s proposals, calling them inadequate and demanding the Greek government return with a detailed plan by Thursday.
The leaders of all 28 European Union members will then meet Sunday in what officials said will be the final chance to save Greece from economic oblivion — or the moment the country is ejected from the euro zone.
Update #1: Greece gets until Sunday for proposals to stave off collapse -- AP
Update #2: Euro zone gives Greece until Sunday for debt deal -- Reuters
WNU Editor: My prediction .... under the current situation there will be no agreement. The Greek voters made their choice very clear this past Sunday .... they do not want to pay their debts, but they want more loans. The EU has a different agenda, and unless they bend .... which I doubt .... Greece will be for all intents and purposes facing bankruptcy this coming Monday.
WNU,
ReplyDeleteWhat amazes me (and it shouldn't) is that they ARE bankrupt, but no one will admit it. All of this is an exercise of passing the buck and buying time, hoping against hope for an unlikely miracle to solve a problem that has an unacceptable political solution.
There is a deal that the creditors could offer Greece but that won't come out until all the final ultimatums have expired and Greece know it.
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