Cliff Wachtel submits: Like other emerging market nations, it has entered a vicious cycle in which market skepticism creates higher borrowing costs and actually pushes the country closer to the abyss, its demise becoming a self fulfilling prophecy.
AS WE have all read repeatedly since it became clear that Greeks would be voting again in June, Greece and the euro zone are engaged in a game of chicken. Greece's left-wing Syriza has been intimating that Greece has nothing to lose from exit and can therefore force the euro-zone core into accommodating its demands. Core euro-area leaders, by contrast, argue that they aren't about to give ground to Greece and that if Greek voters want to push themselves out of the single currency that is fine by them.
BRUSSELS (AP) — European leaders united in anger as they attended a summit overshadowed by reports of widespread U.S. spying on its allies — allegations German Chancellor Angela Merkel said had shattered trust in the Obama administration and undermined the crucial trans-Atlantic relationship. The latest revelations that the U.S. National Security Agency swept up more than 70 million phone records in France and may have tapped Merkel's own cellphone brought denunciations Thursday from the French and German governments.
By Carlos X. Alexandre:cThe recent threat that Greece would be left out in the cold with respect to additional funds was an attempt to get the Greek government to change its mind on the referendum, as reported by Reuters.
NSA contact lists show NSA monitored calls of 35 world leaders.
The National Security Agency monitored the phone conversations of 35 world leaders after being given the numbers by an official in another US government department, according to a classified document provided by whistleblower Edward Snowden.
ATHENS, Greece — A helicopter swooped down on a prison courtyard Sunday as armed men on board fired on guards and lowered a rope to help a convicted killer make his fourth attempt to escape from a Greek prison.
But the plot was foiled after the prisoner was shot and the chopper forced to land in the prison’s parking lot.
The dramatic escape attempt was one of a handful involving helicopters in Greece, and the first time such plans have failed.
Shortly after Dutch finance minister, said "We want no further delays" came news of further delays. The reason: Greek political parties all refuse to go along with more austerity measures.
Please consider Greece’s leaders oppose new austerity measures