Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Photo Euclid Tsakalotos, Greece’s new finance minister with Christine Lagarde, managing director of the International Monetary Fund, at the eurozone finance ministers meeting in Brussels on Sunday. Credit Francois Lenoir/Reuters BRUSSELS — European leaders demanded that Greece make new concessions and quickly adopt a host of economic policy changes as they worked into Monday morning…
ATHENS—Europe’s ultimatum to Greece, demanding full capitulation as the price of any new bailout, marks the failure of a rebellion by a small, debt-ridden country against its lenders’ austerity policies, after Germany flexed its muscles and offered Athens a choice between obeisance or destruction. Sunday’s statement on Greece by eurozone finance ministers will go down…
Angela, what’s the German word for getting kicked out of the euro? (Tobias Schwartz/AFP/Getty Images) Greece has offered an almost unconditional surrender on its bailout, but Germany might not accept anything less than a Carthaginian peace. In other words, a deal that not only forces Athens to submit, but also humiliates it in the process….
Charity worker Maria Karra talks to an elderly man who lives on the streets of Athens. Maria Karra can’t believe her eyes. The founder of an Athens charity for the homeless says the hardship she sees daily on the city’s streets reminds her of crises in much poorer countries. “I used to do this in…
The absence of a deal would, in our view, begin the path to Grexit. In that case, the press conference will probably be dominated by the ECB’s role in handling the situation. On the ECB’s specific role in a Grexit scenario, Mr Draghi said this week that if no deal is struck this weekend, the…
European leaders have confronted the Greek government with a draconian package of austerity measures entailing a surrender of fiscal sovereignty as the price of avoiding financial collapse and being ejected from the single currency bloc. A weekend of high tension that threatened to break Europe in two climaxed on Sunday night at a summit of…
Suppose you consider Tsipras an incompetent twerp. Suppose you dearly want to see Syriza out of power. Suppose, even, that you welcome the prospect of pushing those annoying Greeks out of the euro. Even if all of that is true, this Eurogroup list of demands is madness. The trending hashtag ThisIsACoup is exactly right. This…
ATHENS The leader of Greece’s main opposition party, New Democracy said on Friday it would back attempts by the government to seal a deal with international creditors to stave off financial meltdown. “We want an agreement by Sunday for Greece to stay in Europe. We will authorize the Prime Minister to negotiate and come back…
Greece requested a new three-year bailout from its skeptical eurozone creditors and pledged some economic overhauls on Wednesday, but the euphoria some Greeks felt after Sunday’s “no” vote on the last deal was fading fast. Whether European leaders accept the Greek government’s application for more emergency loans at a crisis summit Sunday still depends on Prime Minister…
Ladies and gentlemen, behold the first sighting of the new Greek drachma: Between June 28 and July 4 at a Hilton hotel in Athens, transactions on a Bloomberg reporter’s Visa credit card issued by Citigroup Inc. were posted as being carried out in “Drachma EQ.” The inexplicable notation — bear in mind, the euro remains Greece’s…