Wednesday, March 04, 2015

Paul Mason on the Greek European deal

Greek European deal:where are we?"\:
"The European deal done six days ago was supposed to stabilise the Greek debt crisis. In return for a bit of fiscal autonomy the Syriza government (a) recognised its debts as legitimate (b) gave its lenders a running veto on any measures taken that might impact on the economy, the banks or the budget balance. ......
I still think the most likely outcome is that the unresolved political battle at the centre of Europe goes on being unresolved. And time is Syriza’s main enemy. If, by June, the ECB council is still calling the shots on Greek debt, then the German government – facing a growing revolt in the CDU/CSU over the terms of Greek forgiveness – will force another, bigger showdown."

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