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Talks between Greece and key EU leaders unlikely to bring breakthrough | World news | The Guardian

Unsuccessful and bad-tempered meetings this week between the two sides in Athens have left Greece looking isolated. Tsipras pushed two bills through parliament on Wednesday granting relief in the form of food stamps and free electricity to those hardest hit by the savage austerity of the past five years.

Eurozone officials complained that this should not have happened without their blessing, accusing Tsipras of "unilateral" action. He responded robustly, arguing that the days of Greece taking orders from its creditors were over and that he was asserting Greece's economic and political sovereignty.

The decision to interrupt the summit to enable a smaller-format negotiation with Tsipras also ruffled feathers among eurozone creditors not taking part in the talks. "I'm angry," said Charles Michel, the Belgian prime minister. He was joined by the Dutch and Luxembourg leaders who held up the beginning of the summit by almost an hour because of an "exchange of information" on the row with Tusk. They also insisted that the rest of the summit be briefed on the Tsipras talks, probably on Friday.

It seems like the Troika and the Greek government are having another who blinks first match.

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Thu Mar 19th, 2015 at 02:44:13 PM EST
Angela Merkel dashes hopes of Greek breakthrough at Brussels summit - live updates | Business | The Guardian

Athens faces €1.7bn euro in debt repayments this month alone. The lack of liquidity has begun to affect the real economy with officials blaming the Dutch finance minister and president of the Euro group Jeroen Dijsselbloem for massive withdrawals from banks yesterday.

"His statements about a Cyprus-style bail-in were totally irresponsible," said one. "They are the sort of thing that could spark the accident everyone is talking about," he added.

"If anything, an accident would take the form of a run on banks."

The "honourable compromise" [see earlier report] that Greece's leftist- led government is said to be seeking could take the form of Athens promising to enact immediate privatisations and maintain unpopular property taxes, insiders said, in return for rescue funds being unlocked.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Thu Mar 19th, 2015 at 02:47:05 PM EST
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