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Greek Debt Crisis: In Athens, Jubilation Gives Way to Dismay and Confusion
Keywords:
The confusion among Tsipras supporters in Athens as the creditor terms that are stricter than the ones rejected in the July 5, 2015 referendum win 250 votes out of 300 in the Greek parliament on July 10, 2014. The centre right New Democracy and centre left Pasok parties and other parties support Tsipras, and the far left of Syriza abstains in the vote. Serious damage was done to the economy in the 6 months of Syriza negotiations ending in the referendum, increasing the size of a new bailout. The increase size of the bailout came as a shock in Germany reducing any flexibility for chancellor Merkel in the internal debate within Germany. In addition relations were damaged with the EU by the referendum and Syriza's handling of it. As a result opinion polls showed German support for concessions dropped to a low of 10%, increasing pressure on chancellor Merkel within her CDU party. Analysts say Greeece could lose another 10% drop in output if Greece leaves the eurozone, showing the risks taken by the far left Syriza party and economic mismanagement. Even if it stays within the eurozone Greece faces additional costs with lower tax revenues from the fallout in the economy of events in July 2015. Greek officials say the restrictions on ATM withdrawals to 60 euros a day for each account could stay in place for months. These developments are not taken into account by academics and young people in Greece as they refer to European solidarity.
Faces in Greece before the July 12, 2015 deadline in negotiations following the referendum
07/09/2015
As pharmacies run out of imported medicines, Greeks face the prospect of a return to the drachma.
Grouped Articles
Fear Grows in Greece as Decisive Hour Nears
Wall Street Journal 07/09/2015
A Perilous ‘No’ to the Status Quo
Wall Street Journal 07/09/2015
Greece’s Parliament Approves Prime Minister’s Bailout Plan
New York Times 07/10/2015
Economist 07/12/2015
Economist 07/11/2015
Greek Debt Crisis: In Athens, Jubilation Gives Way to Dismay and Confusion
Wall Street Journal 07/13/2015
Greece's Syriza government calls for a July 5, 2015 referendum on policy changes and cuts required by the EU/IMF
06/27/2015
Grouped Articles
Greece Calls Referendum on Bailout Terms
Wall Street Journal 06/27/2015
Greece Orders Banks Closed, Imposes Capital Controls to Stem Deposit Flight
Wall Street Journal 06/29/2015
Greece Will Shut Banks in Fallout From Debt Crisis
New York Times 06/28/2015
Europe, Athens Battle for Greek Hearts and Minds Ahead of Referendum
Wall Street Journal 06/30/2015
With Loan Deadline Looming, Europe Offers Greece a Last-Minute Deal
New York Times 06/29/2015
Greece’s Future, and the Euro’s
New York Times 06/29/2015
How Tsipras reached his decision to call for a referendum, and the call for a "'no" vote that has damaged relations with the EU in June 2015
01/28/2013
During the last minute negotiations Tsipras veered from one side to the other. Initially he moved closer to Syriza party leaders who favored an accomodation with the IMF and EU, yet with each rejection of Greece's proposals he moved closer to the confrontational postiion of finance minister Varoufakis. The IMF and EU negotiators considered higher taxes on business in the Greek proposals hurting long term growth, and insisted on pension cuts. Greece's negotiating team was still negotiating over details when Tsipras called off talks and surprised European leaders with his call for a referendum. His announcement that Syriza would call for a no was badly received by EU leaders and Merkel, leading to a breakdown in trust. The inexperience of 40 year old Tsipras and the faculty professor Varoufakis's lack of experience with negotiations, may now have damaged relations between Greece and Germany. The reaction in Germany to this is that now a majority of Germans see Greece's exit from the eurozone as the best option, and the goodwill of leaders in France, Italy and Spain may have been lost.
Grouped Articles
How Alexis Tsipras’s Greek Referendum Call Came After Creditors Covered His Proposals in Red Ink
Wall Street Journal 06/29/2015
Greece Will Shut Banks in Fallout From Debt Crisis
New York Times 06/28/2015
Europe, Athens Battle for Greek Hearts and Minds Ahead of Referendum
Wall Street Journal 06/30/2015
With Loan Deadline Looming, Europe Offers Greece a Last-Minute Deal
New York Times 06/29/2015
Greece’s Future, and the Euro’s
New York Times 06/29/2015
Wall Street Journal 07/02/2015
The breakdown in negotiations between the EU finance ministers and Greece by June 27, 2015, and Tsipras's call for a referendum July 5 on the bailout
01/28/2013
Grouped Articles
Greek Debt Crisis Intensifies as Extension Request Is Denied
New York Times 06/27/2015
Greece Orders Banks Closed, Imposes Capital Controls to Stem Deposit Flight
Wall Street Journal 06/29/2015
How Alexis Tsipras’s Greek Referendum Call Came After Creditors Covered His Proposals in Red Ink
Wall Street Journal 06/29/2015
Greece Will Shut Banks in Fallout From Debt Crisis
New York Times 06/28/2015
Europe, Athens Battle for Greek Hearts and Minds Ahead of Referendum
Wall Street Journal 06/30/2015
With Loan Deadline Looming, Europe Offers Greece a Last-Minute Deal
New York Times 06/29/2015
The Greece referendum of July 5, 2015
07/02/2015
Grouped Articles
Bailout Referendum Lays Bare Deep Schisms Among Beleaguered Greeks
New York Times 07/04/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
In Greek Referendum Campaign, a Barrage of Doomsday Ads
New York Times 07/03/2015
New York Times 07/03/2015
Greeks Reject Bailout Terms in Rebuff to European Leaders
New York Times 07/05/2015
Emphatic ‘No’ Prompts Greek Pride and Revelry
New York Times 07/05/2015
The Greek and German parliament's vote on the Third Bailout loan to Greece in July 2015
07/13/2015
Grouped Articles
German Parliament Approves Greek Bailout Negotiations
Wall Street Journal 07/17/2015
Greek Debt Crisis: In Athens, Jubilation Gives Way to Dismay and Confusion
Wall Street Journal 07/13/2015
Why Greece Should Leave the Eurozone
New York Times 07/24/2015
Eurozone Finance Ministers Approve New Bailout For Greece
Wall Street Journal 08/15/2015
Alexis Tsipras, Greek Prime Minister, Calls for New Elections
New York Times 08/20/2015
The crazy reason we might be facing a huge crisis in Greece again - The Washington Post
Washington Post 04/20/2016
Campaigning and television progamming before the July 5, 2015 referendum in Greece
07/02/2015
Grouped Articles
In Greek Referendum Campaign, a Barrage of Doomsday Ads
New York Times 07/03/2015
Greeks Reject Bailout Terms in Rebuff to European Leaders
New York Times 07/05/2015
Europe’s future in Greece’s hands
Economist 07/04/2015
Economist 07/04/2015
A Perilous ‘No’ to the Status Quo
Wall Street Journal 07/09/2015
Greek Debt Crisis: In Athens, Jubilation Gives Way to Dismay and Confusion
Wall Street Journal 07/13/2015
Greece's tourism industry with 340,000 workers and making up 17% of GDP during the period upto and following the default and referendum in 2015
07/03/2015
Grouped Articles
As Referendum Looms, Greece’s Tourism Industry Holds Its Breath
New York Times 07/03/2015
Greek Debt Crisis: In Athens, Jubilation Gives Way to Dismay and Confusion
Wall Street Journal 07/13/2015
Negotiations of the EU with Greece's new finance minister Tsakalotos in July 2015 following the referendum
07/06/2015
Grouped Articles
Eurozone Sets Sunday Deadline for Greece Financing Deal
Wall Street Journal 07/07/2015
Greek ‘No’ May Have Its Roots in Heroic Myths and Real Resistance
New York Times 07/06/2015
For Europe’s Sake, Keep Greece in the Eurozone
New York Times 07/06/2015
Greek Debt Crisis: In Athens, Jubilation Gives Way to Dismay and Confusion
Wall Street Journal 07/13/2015
Economist 07/19/2015
The Economist magazine briefing on Greece before the July 5, 2015 referendum, and the U turn by Tsipras by July 12, 2015 to accept creditor terms
07/04/2015
Grouped Articles
Economist 07/04/2015
Economist 07/04/2015
Europe’s future in Greece’s hands
Economist 07/04/2015
The Economist explains: Alexis Tsipras’s U-turn
Economist 07/12/2015
Economist 07/12/2015
Economist 07/11/2015
What Greece won in the negotiations and what Greece loses with the failure of talks with the EU, closing of banks, and the referendum in July 2015
07/02/2015
Grouped Articles
Wall Street Journal 07/04/2015
Collapse of Greek Bailout Deal Brings Surprise Boost to German Coffers
Wall Street Journal 07/04/2015
Bailout Referendum Lays Bare Deep Schisms Among Beleaguered Greeks
New York Times 07/04/2015
Europe’s future in Greece’s hands
Economist 07/04/2015
Economist 07/04/2015
Greek Bank Vortex Threatens Deal Hopes
Wall Street Journal 07/06/2015
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