Greek Prime Minister Alexis Tsipras and finance minister Yanis Varoufakis
Germany and its allies are ready to let Greece leave the euro unless Prime Minister Alexis Tsipras accepts the conditions required to extend his country’s financial support, according to Malta’s finance minister, Edward Scicluna.
Greece’s creditors are cranking up the pressure on Tsipras as he seeks a deal to prevent his country defaulting on its obligations as early as next month. By bowing to German demands, the premier risks a domestic backlash from voters and party members whom he’s promised an end to austerity.
German-Led Bloc Willing to Let Greece Leave Euro: Malta (Bloomberg)
Alternatively…
As Greece heads toward 11th-hour funding talks with its euro-area membership on the line, bondholders are surprisingly sanguine about its failure so far to secure a deal.
Forget the strategists at Commerzbank AG who say there’s a 50 percent chance it’ll leave the currency bloc, and those at Barclays Plc who put the exit risk higher even than in the 2012 debt crisis. The Bloomberg Greece Sovereign Bond Index shows those with money at stake aren’t seeing a significant increase in the chances of a euro-zone departure….
Investors Still Don’t Think Greece Will Exit the Euro Bloomberg)
Reuters
Would it actually be so bad for all involved for Greece to cut its losses and quit the euro? I mean yes, they would certainly find it near impossible to raise money on the market but is that much worse than the current state of affairs? At least they’d get some dignity back
see how merkel et all like it with greece, having left the euro, is now being funded by russia or china. i’m sure they’d love russia having a strategic presence on their doorstep.
Nah, they’d have the balkans as a buffer zone. And events in the balkans have never caused any ratcheting of tensions between Russia and Germany
ah yes, the bedrock of stability that is the balkans.
Russia is irrelevant and has a smaller economy than Italy which is broke.
Well if it isn’t resident tit rifle, Janotti. How’s your debate with Bodger going?
I thought he was a weasley tit rifle? I felt it was the weasley bit that really pinned him own as a person.
No edit button on this thing.
I just imagine him Shouting his posts out across an empty crossroads at midnight..
It gives me a chuckle anyway..
Reasley Wit Tifle
Jesus lads, it’s an open forum, Janotti should be able to comment like anyone else, without being subjected to churlish remarks.
Nah. Ponces and churls should always be reminded of their ponciness and churlishness. That’s free speech
European Union. Union. Yep. We need to leave the EU too. It’s utterly undemocratic.
except that ireland isn’t really a democracy either..
Don’t talk nonsense. We have an election every 5 years (at most) where we elect a government. Similarly we have one to elect local representatives. They may not make decisions that you like and may not even make the decisions they said they would make when they ran for election but that’s how democracy works and every five years at most we get the chance to replace them.
How do the local representatives work? I vote for them on, a least loathsome basis, but as far as I can tell all the power is invested in a Dublin appointed Gauleiter the so called County Manager.
Occasionally, a local representative runs for the Dail or gets promoted to the Seanad if they have no chance of being elected.
then how is it that so many advisors, senators, board members, judges etc are appointed by government? this is a plutocracy.
We’re more of a democracy than most. We just elect twits.
A twitocracy..
i think you’ll find for the most part, we are only given twits to vote for.
and reprobertie, the whip system makes a mockery of the democratic process.
Yes its unfortunate that the people who want power are usually the last people who should have it.
Yes, leave the EU and watch Google, Facebook, Intel et al. ride off into the sunset – great idea, Rep.
might stop people voting for sinn fein when they see the chaos it brings to take on the Germans!!
I wish something would happen one way or the other so that the markets could take action to limit the damage. I’m working on a number of transactions in Athens at the moment which have all been put on hold. One in particular would have raised a huge amount of money for the Greek State and provided 1,000s of jobs. The Greeks are shooting themselves in the foot at the moment. External investment will dry up if they don’t sort themselves out.
You are working on a transaction which would have created thousands of jobs in Greece? Thousands? What sort of super bloody transaction is that?
Redevelopment of the old Athens airpot.
Would be interested in any insights o the mood on the street in Greece. Must be an insane place to live for past few years. Wonder how they cope with day to day stuff?
Kudos! Fingers crossed!
Are you one of these new fangled Euro shills, I’ve been reading about?
Do it. Do it like Iceland!
Pains me to see all that angst and worry on such a pretty face.
But yeah, do it Greece.
Its a who blinks first game at the moment. I reckon Greece has the better hand. A country defaulting within ‘Europe’ threatens all of it. Either way, we’ll get along just fine apart from Northern Ireland; because nobody really wants to own it.