Thanks Ronan Burtenshaw
Thanks Ronan Burtenshaw
Anti-Irish Water and austerity protesters in solidarity with Greece outside Leinster House, Dublin this afternoon.
Earlier: Tsip Happens
(Sam Boal/Photocall Ireland)
Julien Mercille (left) and Owen Jones at the Sinn Fein Summer School last weekend
Syriza has to be broken, or so the EU great powers decided long before it was even elected. But how? First: compel it to impose another dose of disastrous austerity, in violation of the party’s clear electoral mandate. This would inflict on it the same fate as the Greek social-democratic party Pasok, which so alienated its support base that its vote plummeted from 44 per cent in 2009 to 4.7 per cent by 2015.
A second possible strategy: strangle Greece’s economy until the people decide that the lesser catastrophe would be to resign themselves to endless austerity within the eurozone. This is the current course of action.
The third strategy: force a default and drive Greece out. However, this might expose the eurozone’s Achilles heel. A precedent would be set: the eurozone would no longer be an indivisible currency union, but a club that weaker members can leave or from which they can be de facto ejected. Italy, say, could find itself the subject of extreme market speculation….
A letter sent last night from Greek PM Alex Tsipras to lenders accepting creditors’ proposal with “some changes”.
More as we get it.
Solidarity is a nice word but not when you’re a former Young Fine Gael chair. pic.twitter.com/3RbOoz2MO5
— rabble (@wearerabble) June 30, 2015
The Department of An Taoiseach, this morning.
Richard Chambers writes:
Squint a little and it could be Athens..
Grand day for it in fairness.
Enda Kenny this morning
Your PFO letter has arrived.
Thank you for your letter of yesterday concerning the negotiations on Greece’s programme of financial assistance. As I have recalled to you at our meetings, Ireland itself experienced a very difficult economic period and worked its way through a programme of assistance and has great empathy for Greece and its people.
We will continue to support the objective of a sustainable and mutually beneficial agreement, acceptable to all concerned, which will, as you say, return Greece to growth within the Eurozone.
It had very much been my hope that, in line with the approach agreed at the Euro Summit of 22 June, and confirmed at the European Council on 25/26 June, agreement would have been achieved at the Eurogroup meeting on 27 June on the basis of the negotiations between your government and the institutions.
Unfortunately, your decision to break off these negotiations meant that this was not possible at that time, as set out in the Eurogroup statement of 27 June.
I hope now that it will be possible to return to negotiations as quickly as possible. For me, and I am sure for all our colleagues, the door remains open to dialogue in a spirit of solidarity and responsibility.
I am happy to acknowledge your stated commitment to Greece’s EMU membership.
Text of a letter Taoiseach Enda Kenny sent to Greece’s Prime Minister Alexis Tsipras last night.
Mr Kenny sent the letter in response to a letter from Tspirias in which he requested support from Ireland for an extension of its bailout programme for one month.
Meanwhile, in today’s Irish Times, Fintan O’Toole writes:
““The Pride of Europe” is a makey-up story that is intended to take the place of the realities it displaces. It’s not a stand-alone narrative. It has an evil twin: Greece. It belongs to a particular genre of fiction: the morality tale. Ireland is the pride of Europe because it is the anti-Greece. We are good because we play along with the bigger stories of the euro zone crisis. Greece is evil because it stopped doing so.”
“One of those stories is that the crisis had nothing to do with reckless lending (by, for example, German state banks) and was created purely by reckless borrowing. The other, even more fantastical, is that so-called austerity (in reality a programme of sucking citizens dry to transfer their resources to private banks) produces economic growth.”
“These stories are as patently false as Enda’s fairy tale, but Ireland is the pride of Europe because it has gone along with them and Greece is the shame of Europe because it has not been able to sustain the suspension of disbelief.”
Anti-austerity protestors gather outside the Greek Parliament, Syntagma Square, Athens amid the EU endgame whatsit.
G’wan the Greeks.
Earlier: The Real Fear Is Political Contagion
Pics Clark Gilles and Denise Reese
— Ronan Burtenshaw (@ronanburtenshaw) June 29, 2015
German finance minister Wolfgang Schaeuble and Michael Noonan
Wolfy and Wily.
Bad cop. Bad cop.
Mr [Michael] Noonan sided with Germany in warning the provision of day-to-day emergency ECB lending to Greece cannot continue indefinitely.
The Finance Minister was among the toughest contributors in talks on the EU’s response to the Greek crisis.
At a heated finance ministers’ meeting, Mr Noonan and his German counterpart, Wolfgang Schaeuble, argued that the ECB governing council could not keep meeting every day to approve emergency loans to Greece.
But ECB officials told the ministers not to interfere with monetary policies.