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Monday, 29 June 2015

Greece and the Euro: Obama and Merkel "In Agreement"; Prospect of Debt Relief Before Referendum Under Discussion?

Let's see what rabbits they can pull out of the hat. From The Pappas Post.

'About Obama’s conversation with Merkel, the White House said in a statement: “The leaders affirmed that their respective economic teams are carefully monitoring the situation and will remain in close touch. “The two leaders agreed that it was critically important to make every effort to return to a path that will allow Greece to resume reforms and growth within the euro zone.”'

From Kathimerini - τηλεφώνημα Λιου-Τσίπρα - Σύμφωνα με ανακοίνωση του υπουργείου Οικονομικών των ΗΠΑ, ο κ. Λιου υπογράμμισε ότι «είναι προς το καλύτερο συμφέρον της Ελλάδας, της Ευρώπης και της παγκόσμιας οικονομίας να βρεθεί μία βιώσιμη λύση που να θέτει την Ελλάδα στο δρόμο των μεταρρυθμίσεων και της ανάκαμψης εντός της Ευρωζώνης». Όπως σημείωσε, είναι σημαντικό όλα τα μέρη να συνεχίσουν τις εργασίες για να φτάσουν σε συμφωνία, «συμπεριλαμβανομένης μίας δέσμευσης στις μεταρρυθμίσεις και μίας συζήτησης για την προοπτική ελάφρυνσης του χρέους της Ελλάδας, ενόψει του δημοψήφισματος της 5ης Ιουλίου».


Meanwhile, people are starting to panic (in spite of the Greek Prime Minister's televised 'message of hope'), even in remote Epirot mountain villages. Rumours of war-ships off Cape Sounion. Messages are being sent from relations in Athens and Brussels, advising people to pack their bags and leave the country, or to stock up on food and supplies! Everybody feels totally uninformed. "O monos mas fovos einai o fovos", said the Prime minister. I'm afraid that irrational fear is taking hold. Justice may win, but whose principles of justice?

A young Albanian immigrant told me that, in comparison to this temporary Greek crisis, he has lived in an existential state of  austerity, daily crisis (and the fear of hunger) all his life. No, he didn't use the word existential. Let's keep matters in perspective.

Washington Post article -  "There were growing global concerns that Greece’s five years of painful sacrifices to stay inside the 19-nation euro zone were coming to a rapid end, with uncertain consequences for the global financial system, as well as for Greeks themselves",

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