EU Decay: Grexit Paving the Way for a Brexit, Frexit and Fixit
The deadline to avoid default and a Grexit from the Eurozone is fast approaching - but the proposals offered by Greek Prime Minister Alexis Tsipras in return for a bailout have been pushed back by the creditors.
New terms for Tsipras have been handed down by the Troika — Greece's creditors.
"There is still a lot of work to do, we are not there yet," Dutch Finance Minister Jeroen Dijsselbloem told reporters in Brussels.
But as the Greek PM met with the heads of the country's three creditor institutions: the European Commission President Jean-Claude Juncker, International Monetary Fund Managing Director Christine Lagarde, European Central Bank President Mario Draghi, he took to Twitter to respond to the rejection.
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The deadline to avoid default and a Grexit from the Eurozone is fast approaching - but the proposals offered by Greek Prime Minister Alexis Tsipras in return for a bailout have been pushed back by the creditors.
New terms for Tsipras have been handed down by the Troika — Greece's creditors.
"There is still a lot of work to do, we are not there yet," Dutch Finance Minister Jeroen Dijsselbloem told reporters in Brussels.
But as the Greek PM met with the heads of the country's three creditor institutions: the European Commission President Jean-Claude Juncker, International Monetary Fund Managing Director Christine Lagarde, European Central Bank President Mario Draghi, he took to Twitter to respond to the rejection.
....
According to the Greek press, the IMF has rejected some of the measures to increase social security contributions, calling for more spending cuts than tax increases.
The top level talks with the Troika in Brussels were also attended by European Commissioner for Budget and Human Resources, Kristalina Georgieva, who said: "Work continues at the highest level so that there can be a substantial contribution to Eurogroup discussions."
'Madame Frexit'
Meanwhile, discussions taking place elsewhere in Europe suggest cracks are widening among key member states.
The top level talks with the Troika in Brussels were also attended by European Commissioner for Budget and Human Resources, Kristalina Georgieva, who said: "Work continues at the highest level so that there can be a substantial contribution to Eurogroup discussions."
'Madame Frexit'
Meanwhile, discussions taking place elsewhere in Europe suggest cracks are widening among key member states.
Marine Le Pen, a front runner in France's 2017 presidential election says a Grexit is inevitable — and hoped France wouldn't be far behind.
Le Pen is calling for an orderly breakup up of the 15 year old monetary union.
In an interview at her National Front party headquarters in Nanterre near Paris, she said:
"Today we're talking about Grexit, tomorrow it will be a Brexit, and the day after tomorrow it will be a Frexit."
Can the Cracks Be Fixed?
According to Paavo Matti Vayrynen, member of Finland's Centre Party, if Greece leaves the Eurozone, "Finland should do the same."
"The transition to the single currency was a bad mistake."
In a statement on his official website, Vayrynen suggests that a Greek exit from the Eurozone would be an opportunity for Finland to 'Fixit' and potentially leave the EU common currency
http://ift.tt/1dgdW36
Le Pen is calling for an orderly breakup up of the 15 year old monetary union.
In an interview at her National Front party headquarters in Nanterre near Paris, she said:
"Today we're talking about Grexit, tomorrow it will be a Brexit, and the day after tomorrow it will be a Frexit."
Can the Cracks Be Fixed?
According to Paavo Matti Vayrynen, member of Finland's Centre Party, if Greece leaves the Eurozone, "Finland should do the same."
"The transition to the single currency was a bad mistake."
In a statement on his official website, Vayrynen suggests that a Greek exit from the Eurozone would be an opportunity for Finland to 'Fixit' and potentially leave the EU common currency
http://ift.tt/1dgdW36
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