The indecision and delays have cost Greece about 30 billion euros in the last three weeks alone, according to one senior European Union (EU) official. Tsipras' inability to cut a deal in early July, which forced Greek banks to close their doors and sent the economy plunging, has pushed up the cost of the latest bailout to 86 billion euros, from the 53 billion euros Greece was requesting only a few weeks ago.
Just under a thousand Euros per Greek citizen (inc babies).
A friend of mine works for a well known bank note printer so I emailed him asking when they started printing Drachmas. He replied "That's supposed to be a secret." Whether they are printing them or not is still an open question, methinks!!
Greece's divisive former finance minister, Yanis Varoufakis, admitted on Monday that Greece made mistakes over its bailout negotiations, but he continued to lay the preponderance of blame for the Greek woes on the country's creditors.
"We made mistakes, there's no doubt about that," he told CNN's Christiane Amanpour in his first international TV interview since stepping down earlier this month. "And I hold myself responsible for a number of them."
"But the truth of the matter, Christiane, is that the very powerful troika of creditors were not interested in coming a sensible, honorable, mutually beneficial agreement," he said, referring to the International Monetary Fund, the European Central Bank, and the European Commission.
"I think that close inspection is going to reveal the truth of what I am saying: They were far more interested in humiliating this government and overthrowing it, or at least making sure that it overthrows itself in terms of its policies, than they were interested in an agreement that would for instance ensure that they would get most of their money back."
Greek banks reopen, but a hefty new sales tax - on everything from coffee to taxis to condoms - brings fresh confusion.
The hefty sales tax rise on many basic goods from 13 per cent to 23 per cent formed part of a package of confidence-building measures the Greek government had to introduce for negotiations on a third bail-out to begin.
For an economy reeling from weeks of uncertainty and capital controls, the higher taxes are expected to accentuate the recession.
Alan Johnson is a useful politician because he looks at the facts before deciding on his conclusion, unlike Owen Jones who decides on his conclusion then works out how to fit the facts to it.
johnhemming2 wrote:Alan Johnson is a useful politician because he looks at the facts before deciding on his conclusion
Oh yes, he looked at the facts on drugs as presented by Prof David Nutt and then ignored them before deciding on his conclusion. I'll never take anything Alan Johnson says seriously.
johnhemming2 wrote:Alan Johnson is a useful politician because he looks at the facts before deciding on his conclusion
Oh yes, he looked at the facts on drugs as presented by Prof David Nutt and then ignored them before deciding on his conclusion. I'll never take anything Alan Johnson says seriously.
Creditors demand a complete change to civil code and to comply with EU banking reform law, with voting seen as a test of Syriza’s strength.
Greek MPs will vote on Wednesday on two laws that could make or break the country’s prospects of an international bailout. Greece is poised to begin talks with its international creditors on a proposed €86bn (£60bn) bailout, but first the Greek parliament has to vote through two measures – a banking reform law and an overhaul of Greece’s civil code.
Introducing these laws was a demand of Greece’s creditors and remains the final hurdle Athens must clear before embarking on a demanding schedule of bailout talks.
