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Monday, July 13, 2015

Wonkblog: Hilarious cartoons show how the world is passionately divided over Greece

Negotiators in Europe have struck a deal to save Greece after marathon overnight talks and weeks of turmoil, as far as Twitter has it, no one seems too excited.A week after voters in the embattled country voted down a European deal, hard-line nations like Germany continued to demand it, calling on Greece to make spending cuts and reforms to its pension system and tax code. Others argued that Europe's leaders acted absurdly, forcing a huge crisis over relatively little money. One analyst told Bloomberg the possibility of Greece leaving the euro is like "any good horror movie," because "the ghosts will always return."Read full article


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Wonkblog: How Greece became the worst economy in Europe

The coming months will be trying for Europe's most struggling economy. Greece, in rather extraordinary fashion, agreed to meet a long list of highly punitive reforms after a standoff of more than a week  that had forced its banks to close and its economy to shut down. The deal was struck in exchange for a bailout package, which could approach $100 billion, and an extended stay as a member of the euro zone.Read full article


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Moody's sees no quick Greek upgrade after debt deal

By Marc Jones LONDON (Reuters) - Rating agency Moody's said that Greece's rock-bottom credit rating was unlikely to be raised any time soon, despite Greece agreeing terms on Monday for a third euro zone bailout. Colin Ellis, the firm's chief European credit officer, said the immediate focus was on whether the Greek parliament approved the proposed deal on Wednesday, and on whether financing could be found to meet a 3.5 billion euro payment to the European Central Bank next Monday. "The balance of risk is still heavily skewed in one direction." Greece is currently rated Caa3 by Moody's after a downgrade at the start of the month.


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Greece debt crisis: Likelihood that all-night talks produced a good deal 'remote', sleep experts say

The likelihood of a decent deal arising after all-night talks held between Greek and European political leaders is remote, according to sleep experts commenting in the wake of the news that Greece is to remain in Europe.


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Greece’s agreement with lenders ‘painful’, says Cypriot House President

Nicosia, July 13, 2015/ Independent Balkan New Agency By Kyriacos Kyriacou The agreement between the Greek government and its international lenders is very painful for the Greek people, the President of the House of Representatives Yiannakis Omirou has said. In a written statement, Omirou points out at the same time that authoritarianism and aspirations of […]


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Greeks split over bailout deal

Eurozone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euro ($94.8 billion) bailout to keep the near-bankrupt country in the single currency.


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Greece And Eurozone Reach Agreement In Bailout Talks

The government in Athens and its creditors have reached a deal that will shore up Greece ’s place in the eurozone after marathon overnight talks.


READ THE ORIGINAL POST AT www.theguardian.com

Greece to miss 450 million euro IMF loan payment on Monday

Greece will not meet a 450 million euro (320 million pounds) loan repayment to the International Monetary Fund that falls due on Monday given its severe cash crunch, two sources close to the issue said. The head of the debt agency, Stelios Papadopoulos declined to comment.


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#ThisIsACoup: a “Financial Coup d’Etat” against Greece. Indeed

Twitter hashtag #ThisIsACoup was trending worldwide on Sunday night, as euro leaders were pushing and kicking around and putting pressure on Greek Prime Minister Alexis Tsipras to either accept  their deal or exit the euro club in an unprecedented collective action of EU/EURO-blackmail against a member-state. Angry users from all […]


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Greek banks closed until Thursday

As the European Central Bank fails to increase its support to cash-starved Greek banks, economists say it could be weeks before banks reopen and withdrawal limits are lifted.


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Greeks unhappy but resigned: 'What can we do?'

Many people in Athens said the bailout deal reached Monday is a better outcome than a "Grexit." But they worry about the exceedingly difficult economic reforms ahead.


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Varoufakis: Only by making Grexit possible could Greece win a better deal

Yanis' first full-blown interview since he resigned comes a day after controversial 'Greekment'


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The Economist: Grexit still possible

Measures too much for Greece to handle


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Big winner in Greece deal? The U.S. dollar

The dollar rallied after Europe reached an agreement to bail out Greece yet again. Experts think the greenback should continue to rally. What does that mean for you?


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Greece signs up to a painful, humiliating agreement with Europe

Greece must also enact further pension reforms, open up professions, loosen trading rules, privatise its electricity network, reform its labour market and ...


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Greece avoids debt crisis with eurozone bailout deal

BRUSSELS — A summit of eurozone leaders reached a tentative agreement with Greece on Monday for a bailout program that includes “serious ...


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Euro falls after Greece reaches bailout deal

Overnight talks held in Brussels produced a deal that should get Greece closer to receiving much-needed funding through the eurozone's bailout fund, ...


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The Latest: French lawmakers to hold vote on Greek deal

BRUSSELS (AP) — The latest from Greece's financial crisis (all times local):


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Merkel's CDU hardliners still unhappy with Greek bailout deal

Angela Merkel came out of the Brussels bailout talks the clear winner, having forced her Greek counterpart to concede nearly everything. But for many in her party, even that was a compromise too far.


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Between rock, hard place, Greece picks austerity. How did it get into this mess?

And Greece was an eager suitor. The country approved the euro in 2001 -- in time to be among the first countries to use the new currency when the ...


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Live Coverage

In 2010, when Greece got its first bailout, creditors demanded that Athens raise €50 billion by the end of 2015 by selling off state assets including ...


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Europe's Debt Problem Has Deeper Roots Than Greece

Greece has a deal—or rather, it has a chance to have negotiations on a deal. But Europe still hasn't found a lasting solution for Greece's debt ...


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Tsipras Has Vandalized Greece

To be clear, for all the previous overheated talk of Greece's "humiliation" by the euro area countries that were bailing it out, this deal is indeed ...


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Harsh Greece deal leaves European vision tainted

Athens has been offered a third bail-out. Bankruptcy, the spectre of a failed state, has been avoided, and Greece will stay inside the euro. But the deal ...


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US stocks up on Greece debt deal

… eurozone leaders agreed to offer Greece a third bailout, after marathon … (£61bn; $95bn) of financing for Greece over three years. "For …


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US STOCKS-U.S. stocks rise on Greek deal; Dow in the black for the year

… leaders reached an agreement with Greece to move forward with a … indexes leading the markets higher. Greece won conditional agreement to receive … . That will only happen if Greek Prime Minister Alexis Tsipras can …


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Washington welcomes Greece's deal with international creditors

The United States welcomed an agreement between Greece and its international creditors on Monday, with U.S. Treasury Secretary Jack Lew saying the deal was good for the global economy. "Today's agreement between Greece and its creditors is an important step forward," Lew said in a statement. The deal reached is "in the best interests of Greece, Europe and the global economy," he said.


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Dijsselbloem re-elected head of Eurogroup ministers -statement

BRUSSELS (Reuters) - Dutch Finance Minister Jeroen Dijsselbloem was re-elected on Monday as president of the Eurogroup of euro zone finance ministers, EU officials said in a statement. Dijsselbloem will serve another two-and-a-half year term as chair of the powerful body of 19 ministers who set the economic policy agenda for the single currency bloc and is currently handling the Greek debt crisis. Centre-left politician Dijsselbloem's only challenger was Spain's centre-right Economy Minister Luis de Guindos. ...


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Euro economy, markets should recover on Greek deal

By Jamie McGeever LONDON (Reuters) - If implemented, the last-gasp deal to keep Greece in the euro zone should allow the region's economy and markets to regain the momentum they showed earlier this year by removing an existential threat to the 19-nation-bloc, economist Nouriel Roubini said on Monday. If there had been a 'Grexit' - Greece exiting the euro zone - a "fundamental repricing" of euro zone assets would have been appropriate, said Roubini, the man known as "Dr Doom" who was among the few to predict the U.S. housing crash that triggered the global financial crisis. "It's a constructive deal, positive for the euro zone, and means that for now, those tail risks that would have led to a more fundamental repricing of euro zone assets should not occur," Roubini told Reuters in an interview in London.


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The Greek Deal Spells The End For The Democratic European Project

After weeks of increasingly frantic negotiations among politicians and bureaucrats in Brussels, Greece finally has a deal.


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Aid for Greece is 'light in tunnel from impending train' — Federation Council speaker

According to Valentina Matviyenko, new loans will further worsen the business climate in Greece


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Greece's Walk of Shame

In the final episode of season 5 of Game of Thrones, Cersei Lannister is forced to make amends for all the sins she has committed over the years. Her hair is shorn, she is stripped naked and forced to walk through the town while the people curse and spit abuse on her. Cersei has committed terrible acts, but her punishment is so brutal and dehumanizing that it destroys the moral authority of those who judge her. How a society treats those it deems to have violated its rules says a great deal about the character and stability of that society. By that standard, Europe has not only disgraced itself in its treatment of Greece but has revealed the true nature of the European project. The illusion of a monetary illusion leading to a democratic political union have been shattered. Europe is a German-dominated Game of Thrones. The European Union has been immeasurably damaged by its treatment of Greece.


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Europe's Harsh Deal Puts Greece Into Receivership And Avoids Contagion

After seeing Greece’s terms, it is doubtful that Cyprus, Portugal or Spain wish to follow in its footsteps.


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'Sell your family heirlooms', but can Greece raise the cash?

It's an ambitious idea to say the least: Greece and its creditors want to raise 50 billion euros via privatisations, but previous attempts to sell off the country's assets have yielded meager results.


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What the EU Bailout Deal Means for Greece

After 17 hours of negotiations, Greece and its creditors have reached a deal that keeps the nation in the European Union, avoiding an unprecedented "Grexit," while paving


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Stocks Rise as Greece Gets a New Bailout Deal

Global stock markets rise after Greece agrees to a new bailout deal with its creditors


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Tsipras Faces Hard Sell of Bailout

Now comes the hard part for Greece Prime Minister Alexi Tsipras: selling a new bailout deal at home that is substantially tougher than the one he and Greek voters resoundingly rejected just a week ago.


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Greek Prime Minister Tsipras Faces Tough Battle To Get Bailout Deal Approved At Home

By George Georgiopoulos and Matthias Williams ATHENS, July 13 (Reuters) - Greek Prime Minister Alexis Tsipras flew back to Athens on Monday to try to ram a controversial bailout deal he secured from creditors through parliament, as anger mounted at more painful austerity measures that could fracture his government. A sleep-deprived Tsipras has until Wednesday night to quell dissent within his own ranks -- probably by sacking hardliners -- and get unpopular measures passed that include higher value added tax and pension reforms. With dozens of potential rebels in the ruling Syriza party, Tsipras will need the support of opposition lawmakers to pass the package, opening doubts over the stability of his government and raising the possibility that he could give way to a caretaker prime minister. There were no details on when and how the reform laws would be tabled. One obstacle could be the speaker, Zoe Constantopoulou, who is key to the logistics of the voting and who has been one of the creditors' fiercest critics. One -- potentially risky -- move could be tabling a no confidence vote to sack her. While there was relief that the country had escaped bankruptcy and a collapse of its banking system, Greeks vented their fury at an agreement that ended up much tougher than proposals they had roundly rejected in a referendum on July 5. Before the final contours of the deal were even known, one of his ministers railed against the deal as being "unviable" and predicted there would be a snap election within months. On the streets, reaction was equally blunt. "Listen, it is some sort of victory but it is a pyrrhic victory because the measures are very strict," Marianna, 73, told Reuters on an Athens street. "People have suffered the past five years and there is more to come now. This is what makes things difficult for us. We wanted to stay in Europe, it goes without saying that we did. But what about the terms?" ANGER Tsipras was meeting his aides and was due to meet the head of his coalition ally, who had declared certain tax hikes and defense spending cuts as so-called "red lines." Their economy pummel by years of recession, their banks shut and dozens of businesses closing daily, some Greeks vented their anger on German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble. Newspapers laced the morning's headlines with references to World War Two and railed against what they see as Berlin's attempts to humiliate Greece as punishment for its resistance to another round of cuts. "Germany unfortunately for a third time in 100 years is attempting to destroy Europe," Nikos Filis, the parliamentary spokesman for Syriza lawmakers, said on local television. "Germany attempted to bring the Greek government down and take Greece outside the euro zone," he said. "We had the illusion that democracy works in Europe when it comes to relations between the nations." In particular, Greeks bristled at Schaeuble's proposal -- not included in the final deal -- for a temporary Greek exit from the euro zone, which many saw as tantamount to expulsion by stealth. "Greece in Auschwitz, Schaeuble seeking a holocaust in Europe," Demokratia newspaper said. The German occupation of Greece during the war has become a recurring theme during months of increasingly fractious bailout talks between Athens and its creditors. Constantopoulou at one point demanded war reparations from Berlin and set up a committee calculating the current value of a loan Greece was forced to make to Germany during the occupation. "Sink the country, Wolfgang Schaeuble orders," the left-leaning daily Efimerida Ton Syntakton said. REMAIN STUBBORN Although the country might have pulled back from the brink of financial meltdown, Greeks will have to endure more pain. Capital controls that limit daily withdrawals from bank accounts to just 60 euros will likely to remain in place for some time, and the finance ministry said on Monday banks would remain shut. "I'm disappointed," said Christina, 43, a private sector employee in Athens. "They (the government) were very dynamic at first. We had a glimmer of hope. We were prepared for something bad to happen and then the worst happened. This is what most people think." Protesters will gather in central Athens on Monday evening to rally against the agreement, while a union of civil servants announced a 24-hour strike on the day the reforms would be voted on in parliament. Hardliners in the ruling Syriza party were also spoiling for a fight. "After 17 hours of negotiations, the leaders of the euro zone concluded with an agreement that is humiliating for Greece and its people," the party's hard-left faction said in a statement on its website. "It is a new harsher bailout that re-establishes the troika and maintains the country under a status of a debt colony under German-led EU custody. "The Greek people must not become disappointed, on the contrary it must remain stubborn, as it did in the referendum and the countrywide protests for a 'No' to the very end. A 'No' to clash with the bailout, neo-liberalism and austerity which are institutionalized in the euro zone." (Additional reporting by Georgia Kalovyrna, Phoebe Fronista, James Mackenzie, Renee Maltezou, Michele Kambas and Lefteris Karagiannopoulos; Editing by Sonya Hepinstall and Philippa Fletcher) -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.


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UNESCO Weighs In On Debate Over Where Jesus Was Baptized

AL-MAGHTAS, Jordan (AP) — For years, Christian pilgrims have waded into the Jordan River from both its eastern and western banks to connect with a core event of their faith — the baptism of Jesus. The parallel traditions allowed Jordan and Israel to compete for tourism dollars in marketing one of Christianity's most important sites. But now UNESCO has weighed in on the rivalry, designating Jordan's baptismal area on the eastern bank a World Heritage site. The U.N. cultural agency declared this month that the site "is believed to be" the location of Jesus' baptism, based on what it said is a view shared by most Christian churches. The decision drew cheers in Jordan, where the number of tourists has dropped sharply since the 2011 Arab Spring and the rise of the Islamic State group. Israel has kept silent while a Palestinian official said the western baptismal site, located in an Israeli-occupied area sought for a Palestinian state, should have been included. The UNESCO decision also raised eyebrows among some scholars. It "has nothing to do with archaeological reality," said Jodi Magness, an archaeologist at the University of North Carolina at Chapel Hill. "We don't have any sites with evidence or archaeological remains that were continuously venerated from the first century on." Experts who reviewed the Jordanian application for UNESCO acknowledged that there is no solid archaeological evidence confirming that "Bethany Beyond the Jordan," also known as al-Maghtas, Arabic for baptism, is the authentic site. However, the Jordanian site is of "immense religious significance to the majority of denominations of Christian faith, who have accepted this site as the location" of Jesus' baptism, the experts wrote in their recommendation. Jesus's baptism is recounted in New Testament passages as the beginning of his ministry. John 1:28 hints at a possible location, the eastern bank: "These things were done in Bethany beyond the Jordan, where John was baptizing." The debate over the baptism site comes at a time of regional turmoil, including the rising threat from Islamic militants who have destroyed ancient artefacts. Jordan's tourism minister, Nayef al-Fayez, told UNESCO that Jordan is sending a message of tolerance. The kingdom's Hashemite rulers "who are the direct descendants of the Prophet Muhammad ... are the same ones who are protecting one of the holiest sites of Christianity," he said. The Israeli-Palestinian conflict also looms in the background. The Israeli-run site, known as Qasr al-Yahud, is located in the West Bank, one of three territories captured by Israel in the 1967 Mideast war and sought by the Palestinians for a state. The baptism site is in a part of the West Bank that remains under full Israeli military occupation. Extending the World Heritage designation to Qasr al-Yahud would benefit the Palestinians if they ever win statehood, but calling for this now might upset their ally, Jordan. A Palestinian Tourism Ministry official, speaking on condition of anonymity because he was not authorized to talk with journalists, said both banks of the river should receive the same treatment, but that "it's not easy for us to defend a site we have no control over." The Israeli-run site has attracted larger crowds than its Jordanian counterpart, in part because it is on the classic Holy Land pilgrimage trail. Israeli officials said half a million visitors came to Qasr al-Yahud last year, compared to several tens of thousands on the Jordanian side. On a recent morning, the western site was filled with pilgrims while the eastern one, a few meters (yards) away across the muddy waters, stood largely empty. Ukrainian pilgrims pulled white robes with baptismal motifs — available at a gift shop for $8 — over swimsuits. They walked down steps into the river, some pinching their noses as they submerged themselves. On a slope above them, South African worshippers sang "Glory, Glory Hallelujah" to the sounds of an acoustic guitar. "It doesn't matter to me much whether it's on this side of the river or the other side of the river," said pilgrim Johan Cornelius, 47, from Middelburg, South Africa. "The fact that it is the Jordan River and that Jesus has been here, he's been baptized by John in this area, that's of utmost importance to me." For decades, such scenes were unimaginable. The river once formed a hostile border, and tensions eased only after a 1994 peace treaty. Over the years, Israel granted access to pilgrims on religious holidays, and opened Qasr al-Yahud for daily visits in 2011 after removing nearby mines, though thousands remain buried in the area. Jordan opened al-Maghtas in 2002. Archaeological digs there yielded remains of baptismal pools, chapels and monks' caves — a setting reflected in early pilgrims' accounts. UNESCO's experts said the finds are "associated with the commemoration" of the baptism. An eastern baptism site would make sense, some scholars said. John the Baptist had antagonized Jewish authorities in Jerusalem and would likely have preferred to stay out of their reach, across the river, said New Testament professor Ben Witherington at the Asbury Theological Seminary in Kentucky. Yisca Harani, an Israeli expert on pilgrimage, said that "if there is theological dictum to use one side, I would say the eastern side." However, Harani said both banks should have been designated as a single site to reflect the meaning of baptism as a journey from the "spiritual desert" to the Holy Land. A number of denominations, including Roman Catholics, Greek Orthodox and Lutherans, have written letters of support for the Jordanian side, which three popes have visited since 2000. But some hedge their bets, as the Greek Orthodox Church considers "both sides as holy sites," said Issa Musleh, a spokesman for the church's Jerusalem-based patriarch. During Epiphany celebrations, he said, worshippers come from the east and the west and "meet in the river." ___ Laub reported from Qasr al-Yahud, West Bank. Associated Press writer Mohammed Daraghmeh in Ramallah, West Bank, contributed to this report. ___ This story has been corrected to fix the spelling of the name Yisca Harani. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.


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With Europe behind it, Greece is being pushed into further peril

There is not the remotest prospect of that Athens can raise the money set out in the bailout terms, even with the enforced sale of national assetsKeynes never existed. The General Theory of Employment, Interest and Money was never written. Economic history ended on the day Franklin Roosevelt replaced Herbert Hoover as president of the United States.That’s the gist of the deal that keeps Greece in the euro, an agreement that will deepen the country’s recession, makes its debt position less sustainable and virtually guarantees that its problems come bubbling back to the surface before too long. Continue reading...


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ECB Emergency Lending to Greek Banks to Remain Unchanged

The European Central Bank (ECB) has decided to leave unchanged the volume of its emergency liquidity assistance available to Greek banks. It will remain at EUR 89 B, as reported by a ECB spokesman quoted by the AFP. The decision of the bank’s board of directors comes mere hours after the leaders of the Eurozone reached a formal agreement on the Greek crisis. The new bailout package for Greece is now available and will involve an additional financial boost of EUR 50 B. The frozen liquidity fund means that Greek banks will remain closed over the next several days.


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Greek crisis: Tsipras returns to Athens to gather support for bailout deal

Analysts believe Alexis Tsipras could lose power amid the backlash over the deep economic reforms, and asset sales, he agreed to in BrusselsLatest: Greece may head for unity governmentSunday’s liveblog: Greek deal reached after marathon all-night summitAnger against GermanyUK: Implementing deal will be hardTsipras odds-on to quit this yearFT: how talks almost imploded 4.27pm BST The International Monetary Fund has put out a short statement following this morning’s euro summit statement and the weekend crisis talks, attended by IMF managing director Christine Lagarde. Gerry Rice, IMF director of communications says: 4.14pm BST Over in Athens the Greek prime minister has got straight down to business holding an emergency meeting of top officials following the announcement of the deal. Our correspondent Helena Smith reports: Continue reading...


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Sink or swim? The euro single currency stays afloat _ for now _ after Greek crisis deal

Europe's monetary union appears saved.


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The Latest: Greek PM back in Athens, drumming up support

BRUSSELS (AP) — The latest from Greece's financial crisis (all times local):


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Greece faces tough conditions under deal with euro zone

BRUSSELS (Reuters) - 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 ($95 billion) bailout to keep the near-bankrupt country in the single currency.


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IMF says ready to help resolve Greek debt crisis

The International Monetary Fund said on Monday it was prepared to work with Athens and its European creditors to help resolve Greece's debt crisis now that a conditional agreement has been reached on a new bailout. IMF spokesman Gerry Rice said the Fund's managing director, Christine Lagarde, had briefed the global lender's board on the outcome of weekend talks.


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Greece and Brussels cut a deal, but at what cost to the 'European project'?

The European Union may have sealed a last-minute deal to save Greece from crashing out of the eurozone. In an unprecedented backlash, the country was painted as overly hawkish and rigid, and in some circles as downright malign.


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ECB Maintains ELA Cap at 88.6 bln; Greek Banks Closed Until Wednesday

An agreement among the Eurozone leaders was not enough to persuade the Governing Council of the European Central Bank to give the green light for a much needed increase of the Emergency Liquidity Assistance to Greece, according to Reuters. Greek banks have been closed and capital controls have been imposed since June 27. Reports claim that this status quo will now remain until Wednesday. The current government decree, which keeps banks closed and capital controls in place until tonight, expires at midnight on Monday and a New Act of Legislative Content will have to be signed for the extension. The bailout deal agreement among the Eurozone premiers is only the first step in securing the financial support of the European Stability Mechanism to Greece. The Eurozone parliaments will have to ratify the deal, with the Greek parliament voting first within the next few days. Securing access to ESM funds is an urgent matter for the Greek government. On July 20, it will have to pay 3.5 billion euros of bond payments to the ECB. The Eurozone’s finance ministers are currently convening to work out a bridge deal for Greece to cover its short term payments.


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Greek Parliament President May be a Thorn in Tsipras’ Side

The stance of Greek Parliament President Zoe Konstantopoulou remains a mystery as Prime Minister Alexis Tsipras will bring the new agreement to be voted in parliament on Tuesday. Konstantopoulou voted “present” in the critical vote for the Greek bailout proposals that has passed with 251 out of 300 votes on Friday morning. The house speaker has opposed the agreement even though Tsipras stressed the need of a consensus. The parliament president has stated that she is not going to resign, even if she is asked to. This might create a problem if she decides to put hurdles in the emergency vote citing rules of procedure. She has already done something similar by delaying the meeting of the plenary in the previous vote. The Greek government is asked to legislate a number of measures and reforms by Wednesday so that several Eurozone parliaments can vote on the agreement. The quick legislation of reforms will show European partners that Greece is actually committed to implementing them. The issue of trust has been crucial in negotiations as the Greek government — and the previous ones — hardly delivered on obligations in the past. Analysts say that Konstantopoulou may use constitutional clauses to delay the vote. Some are afraid of a “coup” from the house speaker. There is no provision which explicitly states that the parliament president is obligated to introduce the bills received from the government for processing to the competent parliamentary committees and the plenary assembly. Several MPs, even from SYRIZA, consider a motion of censure. Such a motion would require the vote of SYRIZA MPs and it may take up to three days, thereby forcing the government to miss Wednesday’s deadline. The motion has to be signed by at least 50 lawmakers and then at least 151 votes against Konstantopoulou are needed in order to oust the parliament president. So far it is certain that the 107 MPs of New Democracy, PASOK and To Potami will vote against Konstantopoulou. There are already several SYRIZA MPs who are displeased with Konstantopoulou’s practices and behavior, but it is hard to find the 44 needed. Konstantopoulou has the 17 votes of Golden Dawn on her side along with the 13 votes from junior coalition partner ANEL who are against the agreement. The house speaker has supported Golden Dawn on some constitutional and legal issues. Also, the neo-nazi party is vehemently against Europe.


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Greece Doesn’t Need a Bailout—It Needs Investors

The global financial system needs to look beyond loans if it wants to avoid future train wrecks when financing growing nations


READ THE ORIGINAL POST AT time.com