At best, this is a band-aid on a 5 inch laceration wound for the Greeks and the situation as a whole. As the article states, the leaders of Greece did a complete 180 on their promises to the Greek people and they now have a little explaining to do. At the end of the day, and as inconceivable as it is, all roads on the European continent lead back to Berlin and it’s Fourth Reich via the Troika.
The package was presented as a deal done by the eurozone countries together, but there has been little doubt throughout the tense and at times angry negotiations that it was Germany which pulled the strings.
Having refused to grant Greece’s request of six months’ grace on its loans and a rapid rolling back of austerity measures, Germany eventually accepted the belated compromise of a four-month extension.
That means Greece will now not run out of money next month and allows the new government in Athens space to continue negotiating with its creditors for a relaxation of the terms of its debt. Continue reading