Greece Gets Screwed By EU (Germany)

After Greece held a referendum on the last bailout package presented by the E.U. which delivered a resounding no to getting completely screwed by the Troika.    Germany (Angela Merkel) decided that Greece should be punished for their intransigence.  You know: Not wanting the unemployment rate to rise above the current 25% for the overall working population and above 50% for those under 25, didn't feel the need for a depression, a collapse of the Greek government and selling off all its public holdings. Like water, electricity, health care  and the harbours and airports.

Germany's hardline stance is an all out effort to cause a change of government in Athens.  A coup.

After a marathon 15 hours of talks the Belgium prime minister tweeted the word: "Agreement"

 Here are the latest updates:

• Belgium Prime Minister tweets 'agreement' after mammoth, all-night summit
   
• European Commissioner promises 'there is a way out'... but economists say Grexit likely
   
•  Athens blinks first as Alexis Tsipras promises to 'immediately implement' reforms
   
• Will Greek troubles spill over to the rest of Europe and UK?
   
• The Greece debt crisis explained in less than 100 words
   
• Will Greek troubles spill over to the rest of Europe and UK?
   
• Greece travel advice Q&A: Tourists urged to bring cash not cards on holiday
   
• What are capital controls and how do they work?

Joseph Cotterill, an FT correspondent, has a good graph showing the amount of money the IMF thinks it can raise from privatisation now, in blue, and in the past. 

 

Joseph Cotterill

@jsphctrl

How past (IMF) predictions for Greek privatisation proceeds turned out. (From the latest DSA) http://t.co/R11AdWbsgp