Head-On Collision: Germany Rejects Greece “Trojan Horse”; Slovakia Rules Out Further Aid

Today the eurogroup finance ministers rejected Syriza’s request for a bridge loan to work things out.

Germany upped the ante, calling Greece’s Letter Requesting Extra Time a “Trojan Horse” and instead demanded a three sentence letter accepting all Trioika demands.

  • Official request for an extension
  • Promise to complete the current programme
  • Commit to negotiating any changes with bailout monitors
  • I have a simple question: What’s left to negotiate other than how big a capital surplus Greece must have and for how long.

    And those, Germany wants a Greek capital account surplus of 3.5% this year, and 4.5% next year and the following years.

    Athens wants 1.5%. Any room for serious negotiation here? 

    I rather doubt it.

    Head on Collision 

    Media still clings to hope that a collision can be avoided. For example, the Financial Times headline reads German and Greek Ministers Set to Collide. 

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    Author: Travis Esquivel

    Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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