European leaders said Monday morning that they had reached a deal meant to resolve Greece’s debt crisis and avert a historic fracture in the Continent’s common currency project.
“EuroSummit has unanimously reached agreement,” Donald Tusk, the president of the European Council, wrote on his Twitter account shortly before 9 a.m. on Monday. The new bailout for Greece would involve “serious reforms” and “financial support,” he wrote.
The deal announced early Monday allows only the start of detailed negotiations on a new assistance package for Greece. But the prospect of a new bailout program was expected to give the European Central Bank the leeway to continue channeling sorely needed emergency funding to Greek banks hollowed out by a long economic slump and the withdrawal of billions of euros in recent months by account holders as the country’s financial crisis worsened.
The Telegraph describes how Germany sees the two options for Greece:
An incendiary plan drafted by Berlin’s finance ministry, with the backing of Angela Merkel, laid out two stark options for Greece: either the government submits to drastic measures such as placing €50bn of its assets in a trust fund to pay off its debts, and have Brussels take over its public administration, or agree to a “time-out” solution where it would be expelled from the eurozone.
The panzers aren’t rolling anymore; Germany is using money instead of bombs to bludgeon Greece into submission. The EU, which was suppose to restrain Germany, has instead become an instrument for it to once again try to dominate the continent. In retrospect, the UK made a very smart decision in keeping the Pound, which at the time seemed to me just bullheaded pride. You can bet this debacle is going to be used in the campaign for the UK to withdraw from the EU.
Following an extrordinary Eurogroup meeting, eurozone finance ministers have refused to extend a bailout program for Greece ahead of a June 30 deadline.
Eurogroup chief Jeroen Dijsselbloem said that Greece’s bailout program “will expire on Tuesday night,” rejecting a Greek request for a one-month extension.
The Eurogroup is reconvening to discuss the “consequences” of a Grexit and “prepare for what’s needed to ensure the stability of eurozone remains at its highest level.”
“Given that situation, I think we might conclude that however regretful, the program will expire Tuesday night,” Dijsselbloem said.
More at Deutsche Welle
It’s a tricky situation. The EU wants Greece to impose further austerity measures going forward and to make a 1.6bn Euro loan payment by June 30th. The Tsipras government wants an extension so that it can submit the EU proposal to a referendum on July 5th. At stake is a further 7-8bn Euros in financial aid. The chances of Greeks voting for more austerity seem vanishingly small to me.
“I believe the incident benefits the state in a way that, in this country, we are becoming more and more open in our discussions about how insular we are, our intolerance of people who are different, as well as homophobia. I believe discussions are a healthy thing, we need more of them, as the sooner Lithuania becomes more open and more tolerant, the better it will be for the country,” Grybauskaitė told Vilnius journalists on Wednesday.
Really shameful when someone whose music has its foundations in gay culture turns out to be a bigoted prick. Waiting for the “free speech brigade” to start making him their cause celebre and claim his right to free speech is being curtailed by the “Internet mob”.
The Lithuanian producer has lost his slot at two major festivals.
Creamfields, PITCH festival, Sónar and Austria’s Urban Art Forms have removed Ten Walls from their line-ups over a homophobic rant he posted online last week.
The organisers of Amsterdam’s PITCH wrote on Facebook: “In light of recent comments made by Ten Walls on his Facebook regarding homosexuality, we have decided to cancel Ten Walls’ show at PITCH festival. We want to make very clear that PITCH is a festival for everyone, and we are against any form of discrimination whatsoever, on and off our festivalsite. Comments like these are so far from our beliefs that it wouldn’t make any sense to have this act playing our festival.”
UK festival Creamfields also decided to cancel Marijus Adomaitis’ appearance. “Whilst we respect freedom of speech, we find his defamatory and prejudiced comments about the gay community extremely offensive and feel that this is not in line with the spirit of Creamfields or an opinion that we support,” the festival said in a statement.
The co-pilot of Germanwings Flight 4525 tried a controlled descent on the previous flight that morning to Barcelona before the plane crashed into a mountainside in March on its way back to Germany, French air accident investigators said in a new report released Wednesday.
Co-pilot Andreas Lubitz repeatedly set the plane into a descent, then brought it back up again on a flight on the same A320 jet from Duesseldorf to Barcelona, the BEA investigation agency said in the report.
The report said the pilot appeared to have left the cockpit during that flight as well.
Cockpit data shows that he put the plane into descent mode five times in a four and half-minute period during the Duesseldorf-Barcelona leg.
Polish border guards on Monday blocked entry into Poland for 10 Russian bikers who said they were following a path commemorating the Red Army victory’s over Nazi Germany 70 years ago.
Border guard spokesman Dariusz Sienicki announced the decision after members of the Night Wolves, a nationalistic Russian group loyal to President Vladimir Putin, approached the border and tried to enter Poland.
Polish authorities said last week they would ban entry for the group, with leaders calling their plans to ride through Poland as part of World War II commemorations a provocation. The Night Wolves vowed to enter anyway and 15 were seen Monday morning at the border crossing between Brest, Belarus, and Terespol, Poland.
Belarusian guards let them pass but they were then held in a hangar by Polish officials.
“These people will not cross into Poland. Each of them will individually receive a decision denying them entry into Poland’s territory,” Sienicki said.
But according to the right it’s us who live under tyranny…
A court in southern Russia has sentenced three young women to brief jail terms for making a video showing them twerking next to a World War II memorial.
Russia celebrates the 70th anniversary of the Allies’ victory in the World War II next month, an emotionally charged holiday the Kremlin has been using for propaganda purposes.
The sentencing in the Novorossiysk district court of a 19-year-old woman to 15 days in jail and two women in their 20s to 10 days comes after prosecutors launched a probe into a video showing a group of women twerking next to the memorial on the Black Sea. Twerking is a sexually provocative dance involving thrusting of the hips.
93-year-old former guard accused of being accessory to the murder of 300,000 people in Auschwitz between May and June 1944.
The absence of a coherent ‘plan B’ for post-Gadafy Libya is one of the main problems behind the Mediterranean migrant crisis, according to Italian prime minister Matteo Renzi.
Speaking to the RTL radio, Mr Renzi said: “The international community didn’t really ask itself what would happen after (the fall of) Gadafy. Libya has been torn apart and now we need a precise strategy…”
Speaking ahead of a summit of EU Foreign and Interior Ministers today in Luxemburg on Monday, Mr Renzi said Italy would be asking its European partners to consider the Libyan crisis “in a more serious manner than in the past”.