Greece in crisis: Close to the threshold

UK Only Article: 
standard article

Fly Title: 

Greece in crisis

Rubric: 

An incoherent proposal from the Greek government opens a new chapter in the crisis

Main image: 

20150704_blp902.jpg

“THE crisis has commenced,” declared Michael Noonan, Ireland’s normally mild-mannered finance minister, as he left today’s Eurogroup meeting in Brussels. It is hard to disagree. One week ago Greece-watchers were wondering whether Alexis Tsipras’s left-wing government could strike a deal with its creditors in time to unlock the bail-out money it needs to avoid defaulting on a €1.5 billion ($1.7 billion) IMF payment due on June 30th. It is a sign of how quickly matters have deteriorated in the last 24 hours that the IMF bill, which will now surely be missed, is now a sideshow. Instead, after Mr Tsipras unexpectedly called a referendum over the creditors’ latest offer, the question is whether there is still a place for Greece inside the euro zone.
On July 5th, assuming Mr Tsipras’s plan holds, Greeks will vote on whether to approve a set of reforms and fiscal adjustments proposed …

Read more here:: Greece in crisis: Close to the threshold

      

Share this article