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Thursday, March 19, 2015

Greece's 'moment of truth' is looming as Tsipras heads to Brussels

Source: www.businessinsider.com - Thursday, March 19, 2015 Greek Prime Minister Alexis Tsipras is heading to Brussels for a two-day meeting today, along with every other head of government in the eurozone. The most pressing topic of discussion is him, his country and his government. And it's not looking positive right now for Athens. Though Europe's finance ministers and the new Greek government tentatively agreed to extend the country's bailout in February, things have deteriorated significantly since.  Relations between Germany and Greece are particularly sour: Greek finance minister Yanis Varoufakis stands accused of giving Germany the finger . That's just the latest in a string of recent tensions between the two countries, and polling suggests most Germans want Greece out of the eurozone .  According to the Wall Street Journal, at the bureaucratic level things aren't going much more smoothly . Greece's international lenders (the European Central Bank, IMF and EU) are being provided "with very little information on the government’s finances and its plans for overhauling its economy and public sector," with one official simply saying that "the Greeks aren’t cooperating." Barclays' Philippe Gudin lays out what's at stake in the next two days (emphasis added):  Eurogroup President Dijselbloem suggested on Tuesday that the country could have to impose capital controls soon. We believe that significant progress at the EU Summit is very unlikely and that EU leaders will probably put more prAll Related


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