{"id":9104,"date":"2015-06-15T05:38:54","date_gmt":"2015-06-15T10:38:54","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9104"},"modified":"2015-06-15T05:38:54","modified_gmt":"2015-06-15T10:38:54","slug":"ecb-press-release-this-wednesday-could-end-extortion-racket-over-greece-a-la-cyprus-2013","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9104","title":{"rendered":"ECB Press Release this Wednesday Could End Extortion Racket over Greece \u2013 \u00e0 la Cyprus 2013"},"content":{"rendered":"

ECB Press Release this Wednesday Could End Extortion Racket over Greece \u2013 \u00e0 la Cyprus 2013<\/a><\/h3>\n

It was Greece\u2019s \u201clast chance,\u201d again. But Sunday, it too fell apart, as they always do. European Commission President Jean-Claude Juncker broke off his attempts to mediate between Greece and its creditors. The differences were too large, a spokesperson said.<\/p>\n

Now there\u2019s a new \u201clast chance\u201d in this mutual extortion racket. The 19 finance ministers of the Euro Group will meet this Thursday in Luxembourg. The spokesman\u00a0said<\/u><\/a>\u00a0that Juncker \u201cremains convinced that with reinforced reform efforts on the Greek side and political will on all sides, a solution can be found by the end of the month.\u201d So probably not.<\/p>\n

\u201cLast chance,\u201d because otherwise there wouldn\u2019t be enough time for the parliamentary processes required by other countries to approve the new bailout deal before the payments come due.<\/p>\n

But even before this \u201clast chance,\u201d the ECB will meet to decide, once again, the fate of the Greek banks, and thereby Greece.<\/p>\n

It doesn\u2019t help that the financial markets aren\u2019t swooning every time \u201cGrexit\u201d appears in the media. Greece has lost its negotiating power. The financial markets have other things to worry about. But the markets in Greece have crashed, and Greek banks have been reduced to penny stocks.<\/p>\n

Even supporters of the Greek positions are losing patience with Greek game theory. In an interview published on Sunday, Italian Prime Minister Matteo Renzi told the\u00a0Corriere Della Sera<\/u><\/a>: \u201cWe all want Greece in the Euro, but they have to want it too.\u201d<\/p>\n

German Vice Chancellor Sigmar Gabriel, head of the center-left Social Democrats (SPD), who has been largely supportive of Greece\u2019s efforts, chimed in more forcefully via the tabloid\u00a0Bild<\/u><\/a>:<\/p>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

ECB Press Release this Wednesday Could End Extortion Racket over Greece \u2013 \u00e0 la Cyprus 2013 It was Greece\u2019s \u201clast chance,\u201d again. But Sunday, it too fell apart, as they always do. European Commission President Jean-Claude Juncker broke off his attempts to mediate between Greece and its creditors. The differences were too large, a spokesperson […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[63,2016,233,2467,280,282,2246,6369,1167,4254,4255],"class_list":["post-9104","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-banks","tag-cyprus","tag-ecb","tag-emu","tag-euro","tag-european-central-bank","tag-european-monetary-union","tag-extortion","tag-greece","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9104"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9104\/revisions"}],"predecessor-version":[{"id":9105,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9104\/revisions\/9105"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}