Greece...

wymondham

Well, will Greece come up with something worthwhile, and more to the point are the EU leaders about to let them off the hook to avoid having the awkward path ahead, only to revisit this all if its not going to resolve Greeks problems??

Mistermeaner

Handouts linked to Greek delivery of change can surely be the only way forward, as someone above said track record is one of broken promises and failure so time to be cruel to be kind

BlondeHeadOn

Whatever, it looks like it is going to be expensive...
(and this was from 5 hours ago, so it will have gone up again by now).

From the Guardian:

10:26
Greece may need up to €84bn - reports

There is growing talk that Greece will need more that the €53bn package it is asking for:

The Wall Street Journal has reported:

Greece will need €74 billion ($82.55 billion) in fresh funding, the three institutions overseeing the eurozone bailout program said in their assessment of the country’s request for a new aid package, according to three European officials.
The €74 billion could include €16 billion from the International Monetary Fund, should the Washington-based institution decide to participate in the new aid program, the officials said. A fourth official said some funding could come from Greece raising money on debt markets.

Link: http://www.theguardian.com/business/live/2015/jul/11/greek-debt-crisis-eurozone-creditors-meet-to-decide-countrys-fate#block-55a0df91e4b07fc6a121f9f8

remorseless

and the Frankfurter Allgemeine Zeitung reports:

Es verlässt die Währungsunion für mindestens fünf Jahre und restrukturiert seine Schulden.

blah blah Greece should leave the EZ for 5 years to restructure its debt blah blah

Very interesting how it will develop, but seems clear that trust is an issue where even though the proposal looks good on paper, will the Greece commit?

BlondeHeadOn

This is becoming like a daily soap opera - more from the Guardian updates:

18:04
Reuters: Greece told to offer more

More leaks, as ministers take a break after three hour of talks.
Reuters says that Euro zone finance ministers told Euclid Tsakalotos that Athens must offer deeper reforms to persuade them to open talks on a third bailout.

Two sources said there was consensus among the other 18 ministers around the table that the leftist government in Athens must take further steps to convince them it would honour any new debts.

That fits with the noises coming out of Germany, that Athens can’t simply propose measures ‘left undone’ from its second bailout to qualify for a third aid package.


There's a lot on the German idea of a 'temporary Grexit' as well, seems this is becoming quite a popular notion...

BlondeHeadOn

Just been told a joke:


"Did you know they're going to print euros on Greece-proof paper?"


(I never said it was a good one!)

Thrugelmir

How much does a Greecian urn?

remorseless

BlondeHeadOn wrote: »

Just been told a joke:


"Did you know they're going to print euros on Greece-proof paper?"


(I never said it was a good one!)

Mistermeaner

Scotish pound notes might be a good idea

remorseless

ggb1979 wrote: »

Scotish pound notes might be a good idea

you know, until I while ago I didn't know Scotland had its own pound notes which are a legal tender in the UK!!!!! If I were given one I would think it's a dodgy note!!! :rotfl: