Posted on 07/07/2015 4:24:04 PM PDT by Mariner
ATHENS — An emergency summit of European leaders called to salvage Greece’s financial rescue broke up acrimoniously late Tuesday night, with officials saying the country now has just five days to avoid bankruptcy.
Following a day’s worth of talks aimed at finding a way out of months of bitter deadlock, European leaders were scathing in their assessments of Greece’s proposals, calling them inadequate and demanding the Greek government return with a detailed plan by Thursday.
The leaders of all 28 European Union members will then meet Sunday in what officials said will be the final chance to save Greece from economic oblivion — or the moment the country is ejected from the euro zone.
“The stark reality is that we only have five days to find the ultimate agreement,” said a visibly irritated Donald Tusk, the European Council president. “Until now I have avoided talking about deadlines. But tonight I have to say it loud and clear — the final deadline ends this week.”
(Excerpt) Read more at washingtonpost.com ...
They desire default, but they will accept charity.
The sad end game. Eleven million people with nothing but the shoes on their feet and a small vegetable garden.
Seems they'd rather starve than try to pay that debt. Which is exactly the choice Americans will make in the next 25 years.
F’em, let them suffer, the problem is nobody will learn anything
whenever a borrower is so deep in debt he can’t repay,
there is likely fault by both the borrower and the lender
we will see...
They need to learn there isn’t a free ride.
The ones here will get that same lesson at one time or another.
The right people just weren’t in charge.
We’ll try again.
How many “final” chances have they had already?
I bet at the end of the day the Greeks are extended another bailout without doing diddly. Why? All in the name of keeping
the EU together. The EU bureaucracy cannot seem to fail, regardless of the cost.
Sounds like the Iranian negotiations. Now July 10 deadline? What a joke.
No doubt.
IMF and ECB loaned the Government billion just to pay the interest on the accumulated debt.
All sides crossed the sanity threshold years ago. Never Never Land for at least a decade.
$200bil worth.
After Greece falls, Spain, Italy and Ireland are next.
Let all the dominoes fall.
As many chances as there are clowns in the GOP Presidential Circus.
Typical 7 year old mentality liberal: Daddy! Daddy! Fix it!
Greece demands someone else find the solution to their problems.
I don’t think it’s going to be 25 years.
that sounds quite like some of the fake bond ratings we saw here in USA when our current depression/recession began
seems governents and markets work similarly all over?
The political cost would be far too high in the Germanic countries.
Czech, Slovak, Netherlands, Denmark, Germany and other ELECTORATES will not issue another dime until they see real, proven efforts to end the largesse and fraud.
This is it for Greece. Merkel like the top spot more then she likes the EU.
its amazing that insane public fiscal policies can last a full decade
but then again, Obama’s over six years and counting already ...
It’s not all Greece’s fault. Billions of German debt (Deutche Bank) was offloaded onto the taxpayers of Europe. DB should be held liable for it, as it was their decision to fund the Greek government when everyone knew what the numbers really are.
Germany and Merkel are far from faultless here.
They need to learn there isn’t a free ride.
Gotta list the full set of PIIGS.
Yes, another example of sub-prime lending gone bad!
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