Greek Prime Minister Alexis Tsipras meets German Chancellor Angela Merkel, there were no concessions forthcoming, and ECB has placed significant and severe restraints on Greek banks causing capital flight, says Dimitri Lascaris
Initially, Germany stood firm in saying Greece would have to sign the existing loan program in order to secure an extension, but this was always an untenable position, says Professor James K. Galbraith, academic colleague and advisor to Greek Finance Minister Yanis Varoufakis
Professor James K. Galbraith, academic colleague and advisor to Finance Minister Yanis Varoufakis, says the extension of the loan agreement will allow for a change in the terms to be developed over the next four months
Heiner Flassbeck, a former Director at UNCTAD, tells Paul Jay that the global economy is very fragile, any shock could send it into a major downturn as countries wage currency wars and oil markets are frightening
Heiner Flassbeck says that in refusing to compromise on the loan conditions for Greece, Germany is really concerned about Italy and France which are in a similar situation but with much bigger economies; for Syriza, while leaving the Euro is fraught with danger and is unknown territory, the option of exit must be considered
Economist Heiner Flassbeck tells Paul Jay that Germany has violated EU agreements and Syriza should focus on creating an alliance with Italy, Spain and France to oppose policies that are driving Europe into a deeper recession
February 4, 2015
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