Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
©EPA Greece on Monday caved in to an ultimatum from Germany and its other creditors and agreed to rush through long-resisted economic reforms in just three days in a desperate bid to secure a €82bn-€86bn rescue and stay in the eurozone. Worn down by a 17-hour eurozone leaders’ summit that capped a weekend of talks, Greek premier…
BRUSSELS 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 bailout to keep the near-bankrupt country in the single currency. The terms imposed by international lenders led by Germany in all-night talks at an emergency summit obliged leftist…
Prime Minister Alexis Tsipras’ statement following the conclusion of the Eurozone Summit We have been fighting hard for six months now, and we fought until the end to achieve the best possible outcome, an agreement that will enable the country to get back on its feet, and for the Greek people to be able to…
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…