Greece...

A_Medium_Size_Jock

I'm not suggesting that the time is here yet when Greeks will decide that enough is enough.
But you can only kick the same old can so far down the road before it disintegrates.

antrobus

A_Medium_Size_Jock wrote: »

I'm not suggesting that the time is here yet when Greeks will decide that enough is enough....

The Greeks appear to have had enough of Syriza. Can't say I blame them.
http://www.electograph.com/2017/03/greece-march-2017-opinion-poll-poll.html

A_Medium_Size_Jock wrote: »

..But you can only kick the same old can so far down the road before it disintegrates.

The Greeks have always had the option of either (a) exiting the Euro, or (b) invoking Article 50. It's their choice. It's simply a question of which option leads to the most disintegration. Opinions seem to differ.

A_Medium_Size_Jock

Meanwhile the latest:

Eurozone finance ministers and the International Monetary Fund are exploring a compromise plan for Greece’s bailout that would provide much-needed funds this summer while delaying sensitive talks on debt relief.

https://www.ft.com/content/ece7939a-3fc0-11e7-9d56-25f963e998b2

A_Medium_Size_Jock

A week further on and still no deal in sight.
Alexis Tsipras is drumming up support in asking for debt relief:

Tsipras is said to have spoken by telephone on Monday with French President Emmanuel Macron and also with German Chancellor Angela Merkel, whose finance minister, Wolfgang Schaeuble, is one of Greece’s staunchest critics and opposes debt relief unless the bailed out country adopts stricter austerity measures.
The Greek prime minister is also said to have spoken on Tuesday with European Council President Donald Tusk.

http://www.ekathimerini.com/218844/article/ekathimerini/news/pm-mustering-support-for-greek-debt-relief-bid

Meantime the ECB suggests Europe stops stalling and settles upon a debt relief package:

Coeure, a key ally of ECB President Mario Draghi, weighed forcefully into the debate pitting Greece against countries like Germany and the Netherlands in the run-up to a mid-June meeting of euro zone finance ministers.

https://www.reuters.com/article/us-greece-economy-ecb-idUSKBN18R16J?il=0

worldtraveller

Eurozone ministers have struck a deal to unlock the latest tranche of Greece's bailout cash.

The bailout fund will disburse €8.5bn (£7.4bn) to Greece, eurozone ministers said in a statement.

The latest tranche of the international bailout will help avert a fresh debt crisis in July when the next €7bn euro repayment of loans becomes due.

The payment is still subject to parliamentary approvals in some countries.

International Monetary Fund (IMF) director Christine Lagarde said she would propose an approval in principle to her executive board.

The IMF wants clarity on longer-term debt relief for Greece once the current funding scheme, worth up to €86bn, runs out next year.

BBC News

Quelle surprise! :rotfl:

I trust that they're already sorting out the next funding scheme now, which will undoubtedly be required next year, rather than waiting until the last minute! :whistle:

michaels

Greece are really benefitting from the Brexit vote, the eu have a much weaker bargaining position when the Greeks know the EU dare not cut them loose.

Thrugelmir

michaels wrote: »

Greece are really benefitting from the Brexit vote, the eu have a much weaker bargaining position when the Greeks know the EU dare not cut them loose.

Germans in particular appear to be pushing the issue into 2018. Past this years election. Can kicking continues. Greek economy has to grow at 5% per annum just to service the interest on the debt owed.

A_Medium_Size_Jock

An interesting read from Bloomberg:

Euro-zone finance ministers have unlocked a payment of 8.5 billion euros ($9.5 billion), the newest installment of a rescue plan worth 86 billion euros. This will let Athens make debt repayments of 7 billion euros that fall due next month. But there’s still no agreement on how to get Greece’s debt burden under control. The IMF had previously insisted that this question should be settled now.

https://www.bloomberg.com/view/articles/2017-06-21/europe-s-unserious-plan-for-greece

cogito

Greece returns to bond markets.

https://www.theguardian.com/business/live/2017/jul/24/imf-cuts-uk-growth-forecasts-eurozone-pmi-manufacturing-services-euro-live

Strikes me as odd that they are looking to borrow money at the same time as they're asking for debt relief.

cogito

Interesting read from the Greek Reporter.

http://greece.greekreporter.com/2017/10/13/despite-government-boasting-over-growth-greeks-get-poorer-businesses-keep-shutting-down/

And this from Ekathimerini.

http://www.ekathimerini.com/222513/article/ekathimerini/business/greece-confounding-creditors-fell-in-recession-again-last-year

Never mind. The EU will find another way to screw them next year.