reece – Cruising Toward a “Happy End”?
Bankrupt Greek Government Hopeful …
Hope dies last, as they say in Germany, but it has always been certain that the EU would do “whatever it takes”, to use a Draghi-ism, to keep Greece in the euro fold by finding a way to continue the existing extend and pretend scheme. So we are not surprised to learn that Alexis Tsipras is “hopeful” and that there has been “progress” at the talks – although it actually sounds like they have achieved precisely nothing.
Sparkly Greek prime minister Alexis Tsipras
Image via formiche.net
As Reuters reports:
Greek Prime Minister Alexis Tsipras forecast a happy end soon to fraught negotiations with creditors on a cash-for-reform deal, and the chairman of euro zone finance ministers said talks were making progress, though not enough for a deal next Monday.
However, with Greece’s cash reserves dwindling, EU officials said there was no breakthrough in talks with the International Monetary Fund, the European Commission and the European Central Bank on sticking points such as pension and labor market reforms and budget targets.
“The organization and structure of the talks has improved, compared to what it was before, but we are still quite some way away from a situation that you could describe as a final agreement being well in sight,” a senior euro zone official said.
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