Greek cash call before critical Eurogroup
While the Riga Eurogroup meeting on Friday is not the last chance Greece has to be rescued, it is probably the last chance for it to achieve a result outside of crisis measures.
While the Riga Eurogroup meeting on Friday is not the last chance Greece has to be rescued, it is probably the last chance for it to achieve a result outside of crisis measures.
Negotiations over a new bailout for Greece are approaching a critical stage. And if the country runs out of cash, it might just feel like the end of the world for many Greeks.
It’s the meeting that had to happen. A radical left-wing Greek prime minister and a centre-right German chancellor whose ministers have been urging her to throw Greece out of the eurozone.
At less than 24 hours’ notice the European Commission has vetoed a key law set to be passed by the Greek parliament tomorrow.
The European deal done six days ago was supposed to stabilise the Greek debt crisis. But the situation in Greece is still critical.
Instead of “we were kicked out”, it would be sold as “we escaped” – and I think however positively today’s deal is spun, the push for Grexit will grow stronger as constraints become obvious.
There is a sea change going on within Syriza. I’ve heard people who were staunch believers in a euro that can accommodate by negotiation a radical left government say, effectively, they were wrong.
The eurozone and IMF have done a deal with Greece, extending its bailout for four months in return for a commitment to run all policy measures with significant economic impact past the lenders.
Today is the Greek equivalent of Gettysburg. After the ECB agreed to extend emergency lending for Greek banks for only a few days, the Greeks have until tonight to reach a compromise deal.
Greece begins to cave in on a bailout deal offered by eurozone authorities, but Germany rejects the new proposal for an extension – so the poker game is not over.
Documents leaked to me last night shed new light, but not total clarity, on the dramatic breakdown of talks in Brussels over a new Greek bailout deal.
The Eurogroup finance ministers have just broken up without agreement over a programme on the Greek debt.
While Labour is tight lipped and ultra-orthodox at present, it is entirely possible to imagine the common ground of a Labour-SNP-Green coalition, or a “supply and confidence” type arrangement.
For the second time in 24 hours, Greek negotiators at the EU summit in Brussels, believe that Germany has stymied an agreement over extending their stricken country’s debt facility.
Though the Greek PM is still talking tough, a Greek exit from the Eurozone is looking ever more possible. But a planned demonstration of public emotion could yet have the most impact of all.