Greece and the eurozone: Bitter cup

by / Tuesday, 07 July 2015 / Published in Economy

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Greece and the eurozone


Euro-zone leaders demand Alexis Tsipras offer them a deal harsher than the one Greek voters just rejected. Grexit seems imminent



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IT IS hard to sound threatening when you have bared your teeth so many times before. But Donald Tusk, the president of the European Council, pulled it off last night. Speaking after the euro zone’s 19 heads of government had failed, yet again, to strike a bail-out deal with Greece’s government, Mr Tusk declared that only five days remained to find common ground. Failure, he said, would be “most painful for the Greek people,” and would also have a “geopolitical” impact on the entire EU. Anyone who believed otherwise, he added, was “naïve”.
Grexit now appears to be the default position of most euro-zone leaders. All 28 of the European Union’s heads of government, including the nine from non-euro zone countries, will meet on Sunday to discuss a …<div class="og_rss_groups"></div>
Source: The Economy