Merkel Warns Greece Time Is Running Out to Save Place in Euro
Source: Bloomberg
by Mark DeenPatrick DonahueRebecca Christie
July 6, 2015 5:07 PM EDT
Updated on July 6, 2015 7:14 PM EDT
Greek Prime Minister Alexis Tsipras was given hours to come up with a plan to keep his country in the euro as citizens endure a second week of capital controls.
German Chancellor Angela Merkel said time is running out, as she and French President Francois Hollande, leaders of the two biggest countries in the euro bloc, responded for the first time to Sundays referendum. The European Central Bank piled on the pressure by making it tougher for Greek banks to access emergency loans. Finance ministers and leaders from the 19-member region gather on Tuesday for an emergency meeting.
After promising voters a no against austerity would strengthen his negotiating hand, the onus is on Tsipras to prove he can get a deal with creditors insistent on tax hikes and spending cuts as the price for a new bailout of Europes most indebted nation.
The last offer that we made was a very generous one, Merkel said Monday at the Elysee Palace in Paris. On the other hand, Europe can only stand together, if each nation takes on its own responsibility.
Read more: http://www.bloomberg.com/news/articles/2015-07-06/greece-warned
Pharaoh
(8,209 posts)Germany defaulted on their debt several times in the last century..........
dixiegrrrrl
(60,010 posts)About 13 billion of Greek debt
plus the domino impact on bond funds.
dixiegrrrrl
(60,010 posts)in an interview with Germany's Zeit magazine. he said:
... Germany is really the single best example of a country that, throughout its history, has never repaid its external debt. Neither after the First nor the Second World War. However, it has frequently made other nations pay up, such as after the Franco-Prussian War of 1870, when it demanded massive reparations from France and indeed received them. The French state suffered for decades under this debt. The history of public debt is full of irony. It rarely follows our ideas of order and justice.
As reported in
http://www.zerohedge.com/news/2015-07-06/piketty-germany-has-never-repaid-its-debts-it-has-no-standing-lecture-other-nations
Beauregard
(376 posts)The Germans continually whined about having to pay reparations after WWI, even though they themselves did it to the French 50 years earlier.
I guess a perpetrator can be a victim, but he loses the moral standing to complain.
timdog44
(1,388 posts)but I get your point.
Tell old Merkel, to let the money go.
Nye Bevan
(25,406 posts)I doubt that is the best approach to make her reach for her checkbook, however.
geek tragedy
(68,868 posts)what he proposes, assuming he does propose something.
roamer65
(36,748 posts)It's time for the Germans to pony up and return the favor. If they don't they are cheapskate hypocrites.
davidpdx
(22,000 posts)truebluegreen
(9,033 posts)Nye Bevan
(25,406 posts)and I am reluctant, him telling me to fuck myself is probably not going to make me more willing to hand over more money.
MrMickeysMom
(20,453 posts)Sunlei
(22,651 posts)Nye Bevan
(25,406 posts)which 75% of Greeks do not want to do.
Sunlei
(22,651 posts)Someone said something about a '30% off'? whatever it is they owe the creditors.