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Tuesday, 7 July 2015

Tsipras to come up with new plan to save Greece within 24 hours

http://www.theguardian.com/business/2015/jul/07/eurozone-calls-on-athens-to-get-serious-over-greece-debt-crisis



Angela Merkel and Francois Hollande issue Athens with 24-hour ultimatum

 







"Hell hath no fury...etc"
Merkel struts around with the aloof, arrogant attitude so common amongst previous German Chancellor's, that they are right no matter what the evidence of reality may demonstrate. Echo's of the order given by one of her hero's some 70 odd years ago to "hold its position", perhaps. Merkel lowers the "no surrender" principle to a new level but a level driven by pique rather than practicality.
The people of Greece, much to the surprise of Brussels and the IMF and particularly the chagrin of Berlin, have delivered a resounding rejection of even more austerity in exchange for yet another "loan" to finance an unsustainable debt problem Notwithstanding the various compromise packages offered by the Greek government to resolve the crisis, Europe remained inflexible in their demands clearly in the belief that in the end the Greek government would go the way of previous Greek governments and "cave in" to the pressures. How wrong the negotiators of the IMF, Brussels, the European Central Bank and European Commission were in their assessment of the Greeks. Even when Alexis Tsipras called a referendum on the austerity question, Brussels believed that with more threat and intimidation and with their propaganda spread by the supportive media and television across Europe, the Greek people would reject their government and submit to more humiliation by voting to accept the IMF, Brussels package. Again, how wrong they were.







Even today, after the referendum result, Berlin still insists on issuing an ultimatum to the Greeks, demanding that the Greek prime minister put down new proposals. The problem that Merkel has now, is that cracks are appearing between the European countries as to where to go from here. The IMF, Brussels, and the European Central Bank, no longer hold all the cards. The insistence that
Greek Finance Minister, Yanis Varoufakis be removed from the negotiating team, has done little to improve either their image or their position.
Some European leaders seem able to recognise and accept that simple fact and would probably be prepared to negotiate an honorable settlement with Athens. Merkel on the other hand seems full of spite and anger that her objective of regime change has (for now) has disappeared and she peruses the "no surrender" option.
She may yet destroy the European experiment.