Merkel Blinks!

[Jackson]

Greek deal in sight as Germany bows to huge global pressure for debt relief

Angela Merkel faces a defining moment in her political career as chorus of voices push for Greek debt relief

By Ambrose Evans-Pritchard, Mehreen Khan

7:40PM BST 09 Jul 2015

Germany is at last bowing to pressure as a chorus of countries and key institutions demand debt relief for Greece, a shift that could break the five-month stalemate and avert a potentially disastrous rupture of monetary union at this Sunday’s last-ditch summit.


In a highly significant move, the European Council has called on both sides to make major concessions, insisting that the creditor powers must do their part as the radical Syriza government puts forward a new raft of proposals on economic reforms before a deadline expires tonight.


• Greece crisis: Thursday July 9th

“The realistic proposal from Greece will have to be matched by an equally realistic proposal on debt sustainability from the creditors,” said Donald Tusk, the European Council president.


This is the first time Europe's institutions have acknowledged clearly that Greece’s public debt – 180pc of GDP – can never be repaid and that no lasting solution can be found until the boil is lanced.


Any such deal would give Greek premier Alexis Tspiras a prize to take back to the Greek people after they voted by 61pc to 39pc to reject austerity demands in a landslide referendum last weekend.


While he would still have to deliver on tough reforms and breach key red lines, a debt restructuring of sufficient scale would probably be enough to clinch a deal, and allow him to return to Athens as a conquering hero.


The Greek parliament is due to vote to ratify the measures on Friday.

The world is watching. Notably Germany, Portugal, Spain and Italy.

 

[HenryBHough]

You left Obamerica off that list......somebody's gotta pay the bill for printing all that funny money!

 

[Jackson]

You left Obamerica off that list......somebody's gotta pay the bill for printing all that funny money!

How did I forget the welfare state, the US of A?

 

[zaangalewa]

7

Greek deal in sight as Germany bows to huge global pressure for debt relief

Angela Merkel faces a defining moment in her political career as chorus of voices push for Greek debt relief

By Ambrose Evans-Pritchard, Mehreen Khan

7:40PM BST 09 Jul 2015

Germany is at last bowing to pressure as a chorus of countries and key institutions demand debt relief for Greece, a shift that could break the five-month stalemate and avert a potentially disastrous rupture of monetary union at this Sunday’s last-ditch summit.


In a highly significant move, the European Council has called on both sides to make major concessions, insisting that the creditor powers must do their part as the radical Syriza government puts forward a new raft of proposals on economic reforms before a deadline expires tonight.


• Greece crisis: Thursday July 9th

“The realistic proposal from Greece will have to be matched by an equally realistic proposal on debt sustainability from the creditors,” said Donald Tusk, the European Council president.


This is the first time Europe's institutions have acknowledged clearly that Greece’s public debt – 180pc of GDP – can never be repaid and that no lasting solution can be found until the boil is lanced.


Any such deal would give Greek premier Alexis Tspiras a prize to take back to the Greek people after they voted by 61pc to 39pc to reject austerity demands in a landslide referendum last weekend.


While he would still have to deliver on tough reforms and breach key red lines, a debt restructuring of sufficient scale would probably be enough to clinch a deal, and allow him to return to Athens as a conquering hero.


The Greek parliament is due to vote to ratify the measures on Friday.

The world is watching. Notably Germany, Portugal, Spain and Italy.

Europe and the USA prevented the Grexit and conquered the money of evil Nazi-Germany. Keep some unimportant problems like the complete desorganisation of the greek state. But who cares? Greek politicians? They have enough money now to continue to do again nothing essentially to help their country and their people. Could be interesting to know what would happen in case of a Gexit. The Euro would go down and Greece could indeed start to be competitive. So the best is: Throw Germany out of the European Union. This helps Greece.

By the way. Germany has nearly nothing to do with this all. We only have to pay a lot of money, but we don't make the decisions in Europe. We are nearly without any influence.