How the world sees Greece
The head of the International Monetary Fund, Christine Lagarde, has insisted that any new bailout program for Greece requires significant restructuring of the cash-strapped eurozone nation’s massive debt load. In an online press conference on Wednesday, Lagarde reiterated her view that any new plan for Greece had to include significant restructuring of the country’s debts
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
After pushing through two rounds of austerity to meet the demands of creditors, Greek Prime Minister Alexis Tsipras is saying that’s enough cutting back.
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| READ THE ORIGINAL POST AT www.cbc.ca |
LONDON (Project Syndicate) — From blaming him for the renewed collapse of the Greek economy to accusing him of illegally plotting Greece's exit ...
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| READ THE ORIGINAL POST AT www.marketwatch.com |
The eurozone's political leaders agreed to start negotiations on a much larger package, worth €86 billion, almost half of Greece's gross domestic ...
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| READ THE ORIGINAL POST AT www.marketwatch.com |
ATHENS — As representatives of Greece's international creditors started arriving on Wednesday in the Greek capital for a new round of tough ...
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| READ THE ORIGINAL POST AT www.nytimes.com |
The European Commission adopted the 2014-2020 cross border cooperation program, worth 54 million euros (59.67 million US dollars), between Greece and Cyprus, according to a statement issued here on Wednesday by the Commission.
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| READ THE ORIGINAL POST AT www.globaltimes.cn |
The former finance minister devised an ingenious – if unorthodox – fallback plan to ensure liquidity for Greece’s economyYanis Varoufakis has few friends in official circles these days. Greece’s outspoken former finance minister has long been loathed by his erstwhile eurozone counterparts, on whom he counterproductively impressed their mediocrity. Since he has been jettisoned by his prime minister, Alexis Tsipras, and criticised Greece’s capitulation to Germany’s iniquitous demands, his former Syriza colleagues are losing patience with him too. He is becoming the perfect fall guy for having devised a daring escape plan in the event that Greece’s creditors shut down its banking system and severed its international economic ties – as they eventually did.While Varoufakis’s plan to create a parallel payments system based on the country’s tax register was certainly unorthodox, it was completely understandable. Until the recent revelations, Varoufakis was being criticised for standing up to Greece’s eurozone creditors without preparing a Plan B in case negotiations failed. As many experts and commentators, including me, advised, the Greek government needed to prepare for a parallel currency to provide liquidity to the economy in case eurozone authorities turned off the taps. That way it could credibly threaten to default on its debts while remaining in the eurozone – and thus, it hoped, convince its creditors to offer the debt relief that the depressed Greek economy desperately needed to recover. Related: Brussels rejects Yanis Varoufakis' claims that troika controlled Greek tax system National emergencies don’t come much greater than creditors threatening to blow up the banking system Continue reading...
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| READ THE ORIGINAL POST AT www.theguardian.com |