Courtesy of Mish.
No Bad Compromises Says Germany
Today German Chancellor Angela Merkel proclaimed Greek Diplomatic Offensive Is Failing.
Merkel’s Christian Democratic-led bloc in parliament has agreed not to give in to any “bad compromise that “defacto adds up to a debt writedown,” Hans-Peter Friedrich, a deputy leader of the caucus, said in an interview today.
“Greece, not Germany, is under time pressure,” Friedrich said, citing the Greek government’s cash requirements following the end of the current round of bailout funding at the end of the month. Tsipras and Varoufakis “aren’t in a position to make demands, let alone try blackmailing tactics,” he said.
Noose Tightens on Greece (and Europe)
France is the only country that had shown any sympathy towards restructuring Greek debt.
However, Greek hopes for France hit the hard rocks of reality today when French President Francois Hollande warned Greek Prime Minister Alexis Tsipras that “respecting the rules is necessary for all, for France too, and it’s not always easy.”
Southern Solidarity?
Think Spain is sympathetic to Greece? Think again. The Financial Times reports Spain Keeps Hawkish Eye on Greece as Southern Solidarity Crumbles.
There never was any “Southern Solidarity” on this issue (except with Germany). I explain why in Voter Sentiment in Spain Shifts Towards Podemos in Growing Numbers.
Podemos and Syriza are philosophically aligned, and the leaders of both parties communicate with each other.
…
