Greece crisis: Europe on edge over snap election

[carlzeiss]

http://www.telegraph.co.uk/finance/...-with-call-for-massive-Greek-debt-relief.html

 

[TomandJerry]

The International Monetary Fund has warned that Greece will require far more generous debt relief than is currently on offer from its creditors, as MPs in Athens prepare for a crucial vote on Wednesday on a new bailout plan. An IMF report leaked to Reuters shows that Greece’s public debt is likely to peak at 200% of its national income within the next two years, with the risk that the actual outcome could be even worse.

 

[TomandJerry]

Greek protesters clash with police at anti-austerity march

Greek anti-establishment protesters threw dozens of petrol bombs at police in front of parliament on Wednesday ahead of a key vote on a bailout deal, in some of the most serious violence in over two years.

Police responded with tear gas, sending hundreds of people fleeing in central Syntagma Square.

Earlier, thousands took to the streets of Athens in a series of otherwise peaceful marches during the day to protest against the new bailout deal that saved*Greecefrom bankruptcy but will impose more reforms on a country already deep in crisis.

 

[TomandJerry]

Greece has now missed it's wensday deadline to implement the things agreed on Sunday.

"Time for the vote? No, time for former deputy PM Evangelos Venizelos to speak -- and questioning whether correct processes are being followed.

— M. Caruso-Cabrera (@MCaruso_Cabrera)July 15, 2015

.@EVenizelos*is making a stink about procedure. Still no vote 8 minutes past midnight.*@tsipras_eu*nowhere to be seen"

 

[Hampster Gull]

Greece has now missed it's wensday deadline to implement the things agreed on Sunday.

"Time for the vote? No, time for former deputy PM Evangelos Venizelos to speak -- and questioning whether correct processes are being followed.

— M. Caruso-Cabrera (@MCaruso_Cabrera)July 15, 2015

.@EVenizelos*is making a stink about procedure. Still no vote 8 minutes past midnight.*@tsipras_eu*nowhere to be seen"

Barber out

 

[Mellor 3 Ward 4]

Greek Parliament passes austerity bill

 

[topbanana36]

Greek Parliament passes austerity bill

The EU project don't you just love it. I thought Germany was defeated in 1945. The Greek people will be delighted, and we moan about basil brush.

 

[cunning fergus]

The International Monetary Fund has warned that Greece will require far more generous debt relief than is currently on offer from its creditors, as MPs in Athens prepare for a crucial vote on Wednesday on a new bailout plan. An IMF report leaked to Reuters shows that Greece’s public debt is likely to peak at 200% of its national income within the next two years, with the risk that the actual outcome could be even worse.

This should be much bigger news than it appears to be.

http://www.nytimes.com/2015/07/15/u...rginalia&src=me&pgtype=article&abt=0002&abg=0

The summary is that whatever way the ECB and European Commission want to cut the debt cake ultimately there has to be fiscal transfer from the richer EU countries to Greece.

In the meantime the IMF may well hold back on its part of the bail out leaving the EU to find their part of the money from elsewhere, including non eurozone countries...........incl. UK, putting the UK's elected Govt on a collision course with the unelected European Commission who will demand UK taxpayers money.

Mental.

 

[Green Cross Code Man]

This should be much bigger news than it appears to be.

http://www.nytimes.com/2015/07/15/u...rginalia&src=me&pgtype=article&abt=0002&abg=0

The summary is that whatever way the ECB and European Commission want to cut the debt cake ultimately there has to be fiscal transfer from the richer EU countries to Greece.

In the meantime the IMF may well hold back on its part of the bail out leaving the EU to find their part of the money from elsewhere, including non eurozone countries...........incl. UK, putting the UK's elected Govt on a collision course with the unelected European Commission who will demand UK taxpayers money.

Mental.

All so predictable. 20 years ago it was known that these kind of problems were likely to surface given the fudging of the euro entrance criteria. How many lives have been ruined due to the ideology of Kohl, Mitterrand and Delores? I think that given their role in allowing Greece to participate in a venture that the country couldn't afford, it's a pretty awful attitude the Germans have had. As Germany and France were the principle instigators of the scheme, they should carry the can.

 

[Triggaaar]

I wonder what the vote would be like if we had our referendum now.

 

[topbanana36]

I wonder what the vote would be like if we had our referendum now.

Northstandchat poll?

 

[Triggaaar]

Northstandchat poll?

You can do one if you like. I'm not sure how representative we are, and you also have the issue of people giving it the big 'un when asked how they'll vote, then bottling it when the time comes.

 

[Tom Hark Preston Park]

Whatever anyone's stance on the Greek crisis is, you have to admire, shirley, the ability of Alexis Tsipras to keep functioning rationally and not cracking up, despite being under the most horrendous unrelenting pressure from all sides. Total respect to the bloke

 

[Simster]

Whatever anyone's stance on the Greek crisis is, you have to admire, shirley, the ability of Alexis Tsipras to keep functioning rationally and not cracking up, despite being under the most horrendous unrelenting pressure from all sides. Total respect to the bloke

Really? He's gone down massively in my estimations. Seemingly principled and demanding a referendum in order to give the impression of fighting for his people, he walks into meetings with creditors and "negotiates" absolutely no haircut, more borrowing and more austerity. No Plan B, just a whinge that Grexit wasn't acceptable, so he's just done exactly as he's told.

Feeble.

 

[Tom Hark Preston Park]

Really? He's gone down massively in my estimations. Seemingly principled and demanding a referendum in order to give the impression of fighting for his people, he walks into meetings with creditors and "negotiates" absolutely no haircut, more borrowing and more austerity. No Plan B, just a whinge that Grexit wasn't acceptable, so he's just done exactly as he's told.

Feeble.

Not saying he's not had to do a massive climb-down, just that he's not crumbled into a complete basket-case by now, unlike his demonic ex-Finance minister. Can you imagine what this must be doing to his mental health, his heart and his blood pressure? Doesn't bear thinking about really.

 

[cunning fergus]

Really? He's gone down massively in my estimations. Seemingly principled and demanding a referendum in order to give the impression of fighting for his people, he walks into meetings with creditors and "negotiates" absolutely no haircut, more borrowing and more austerity. No Plan B, just a whinge that Grexit wasn't acceptable, so he's just done exactly as he's told.

Feeble.

Completely agree.

The whole referendum peice I agreed with, and whilst Greece was always going to have pain, I thought he was holding out for a concession on the debt, which is the only way Greece has the hope of a viable and sustainable future.

To (seemingly) not get this concession seems ridiculous, and not least in light of the previous Finance Minister's recent resignation and the Deputy Finance Minister yesterday.

Tsipras would have agreed with their position previously and no he doesn't................hence his reliance on the opposition to get the deal over the line.

So not just feeble, but Kinnock style departure from his previous polictical principles................its like someone somewhere has got him all wrapped up.

 

[Tom Hark Preston Park]

Would be nice if the Greeks could for once call a halt to air traffic control strikes over the Summer so we could bring some Euros into the country to spend. No other way Euros are going to trickle down into the tavernas.

Cheers.

 

[TomandJerry]

Draghi confirms, extremely casually, that the ECB has raised Greece’s emergency liquidity limits by €900m.

That’s a small increase -- it won’t allow capital controls to be lifted.

But it should stop the cash machines running out in the next few days.

 

[TomandJerry]

Here we go again....


Greece's Prime Minister Alexis Tsipras is set to call a snap election for 20 September, according to Greek media.

 

[Herr Tubthumper]

Here we go again....


Greece's Prime Minister Alexis Tsipras is set to call a snap election for 20 September, according to Greek media.

This has been suggested for sometime. If he wins the whole Greece issue over the past months/year is put to bed once and for all.......thankfully.