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Tue Jun 2, 2015, 06:40 PM

Greece, latest news...Clock Ticks as Greece Refuses to Kneel on its Debt

By: Tanya Talaga Global Economics Reporter, Published on Tue Jun 02 2015

To the dismay of its European creditors, Greece announced earlier this month that it was rehiring 4,000 cleaners, school support staff and civil servants who lost their jobs due to austerity cuts.

A defiant Greek Finance Minister Yanis Varoufakis defended the move, reminding lenders that perhaps the nation of 11 million has a different idea of what constitutes “reform.”

The rehiring was cheered in the streets of Athens but Europe was aghast. Greece did exactly the opposite of what the troika of lenders — the European Central Bank, the International Monetary Fund and the European Commission — wanted, namely real pension reform, reducing the size of government and spending cuts.

No doubt, Brussels felt the slap.

But they probably knew it was coming.




Helena Smith: Greece rumour mill in overdrive

Helena Smith
There is much chatter in Athens this morning that the country could hold elections if Greece isn’t given the “honourable compromise” that it wants, says our correspondent Helena Smith.

It is indicative of the mood in Athens this morning that even the mild-manned deputy premier Yannis Dragasakis has come out all guns. “As a government neither do we accept ultimatums not do we bow to blackmail,” tweeted the ex communist who is now in charge of the anti-austerity coalition’s economic policy.

If an honourable compromise isn’t reached “then we’ll have elections,” the labour minister, Panos Skourletis, told SKAI TV. “When you are elected you are not given carte blanche,” he said, adding:
“If a deal is achieved that is not deemed honourable and promoting of compromise, the people will have to be asked before we sign it.”
Nikos Filis, the governing Syriza party’s representative in parliament, also insisted this morning that in the event of an agreement not being endorsed by government MPS (but being voted through with the help of the opposition) the country would necessarily have to go to the polls.

The great Greek rumour mill is suggesting that fresh polls could be held on June 28. It should be noted that prime minister Alexis Tsipras’ radical left Syriza party is by far the most popular party - and would almost certainly win an elections hands down. Europe or indeed the IMF would not be dealing with a new face in power!

Plenty more at the Guardian link.

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Reply Greece, latest news...Clock Ticks as Greece Refuses to Kneel on its Debt (Original post)
mother earth Jun 2015 OP
mother earth Jun 2015 #1

Response to mother earth (Original post)

Tue Jun 2, 2015, 06:48 PM

1. Tsipras: "We have submitted a realistic plan for Greece to exit the crisis," (meets Juncker Wedns.)

Full article:

June 2, 2015

Greek PM Tsipras has 'realistic' debt deal proposal

"The political consequences of a Greek bankruptcy in the eurozone would of course be gigantic. I think a lot of people have the impression that we're better off without Greece in the eurozone.

"The truth is that if we break the first piece out of the European house, Europe would be in a different state."

But Syriza parliamentary spokesman Nikos Filis reiterated that the government would not sign an agreement that was incompatible with its anti-austerity programme.

"If we're talking about an ultimatum... which is not within the framework of the popular mandate, it is obvious that the government cannot co-sign and accept it," Mr Filis told Antenna TV

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