Germany's ruling parties are to introduce a resolution in parliament blocking any further boost to the EU's bail-out machinery, vastly complicating Greece's rescue package and risking a major clash with the IMF.
It is possible if not likely we have to suffer through at least 11 more Groundhog days as Greece sets March 8 deadline for investors in bond swap.
Greece has set a March 8 deadline for investors to participate in its unprecedented bond swap aimed at sharply reducing its debt burden, according to a document outlining the offer.
Greece’s flirtation with an exit from the euro in 2011 and two cliffhanger elections in 2012 prompted the darkest days of the debt crisis, halted only by the European Central Bank’s pledge to save the currency come what may.
BRUSSELS: Greece's European creditors are playing a game of pass-the-parcel about who should stump up the money to avert a default at the end of June if Athens clinches a last-gasp deal this week on a package of reforms to unlock frozen bailout funds. Greece must repay the International Monetary Fund (IMF) 1.6 billion euros ($1.8 billion) by June 30 or be declared in default, potentially triggering capital controls to prevent a bank run and pushing it closer to an exit from the euro zone.
ATHENS: Greece today said it would present new proposals to its EU-IMF creditors to reach a debt deal as the country's outspoken finance minister called on German Chancellor Angela Merkel to make a "clear decision" at an emergency eurozone summit. European Union heads are waiting for Greece's anti- austerity government to present new economic reform and budget proposals, and Greek Minister of State Alekos Flambouraris said today Athens would propose re-worked measures.
Athens (AFP) - Greek Prime Minister Alexis Tsipras is facing a showdown both with international creditors and dissenters in his party as his government toils to reach a default-saving loan deal in less than a month.
Berlin (AFP) - As Berlin and Athens lock horns over debt relief, Greece's claim that Germany has never compensated it for all the damage wrought by the Nazis during World War II is again straining ties.
Germany's "Official Denial"
If you seek confirmation that Germany is actively trying to force Greece out of the Eurozone, strong evidence appears in the form of an "Official Denial"
Please consider Merkel Says Won't Force Greece Out of Euro
German Chancellor Angela Merkel said on Tuesday she did not want to see Greece being forced out of the euro, warning that this would have "unforeseeable consequences."
A few hours ago, Greek lawmakers approved a reform law to unlock about €8.8 billion of rescue loans from the European Union and the International Monetary Fund. The law, which was a condition for further aid installments, passed easily with the solid backing of the three parties comprising Greece's ruling coalition, by 168 to 123 votes.