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http://www.brotherjohnf.com/22517-eurogroup-greece-wrestling-defeat-claws-victory/ – 22/5/17: Eurogroup and Greece: Wrestling Defeat from the Claws of Victory. —

trueeconomics.blogspot.com / by Constantin Gurdgiev / Tuesday, May 23, 2017

Today’s Eurogroup meeting on Greece ended in no agreement and extends the current tranche negotiations into June 15, the date of the next Eurogroup meeting.

For the background:

Greece is an economy brought to its knees by the Eurogroup and the ESM, as detailed in a range of facts well-summed up here: http://blogs.lse.ac.uk/eurocrisispress/2017/05/01/greece-any-better-times-or-more-pitfalls-ahead/; and

Greece is now back in a recession, with dire consequences for both, the economy and the Greek society, and for fiscal targets and programs previously agreed by the Eurogroup: http://trueeconomics.blogspot.com/2017/05/18717-greece-in-recession-again.html.

The key sticking point so far is the scheduling of future primary surpluses (budgetary surplus before the debt servicing costs are factored in). The Eurogroup insists on these surpluses running at 3.5% of Greek GDP for the first 5 years following 2018, declining to 2% or 2.2% (depending on the version of the draft agreement) for 2023-2060.

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The post 22/5/17: Eurogroup and Greece: Wrestling Defeat from the Claws of Victory appeared first on Silver For The People.

–(Published @ May 23, 2017 at 10:20AM by www.bitcoins.am™ Instant Real-time Bitcoin News Aggregation Source- From: ) #bitcoinnews

22/5/17: Eurogroup and Greece: Wrestling Defeat from the Claws of Victory – Silver For The People
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