Greece bailout: Eurozone agrees ‘breakthrough’ debt deal – BBC News

English: Various Euro bills.

English: Various Euro bills. (Photo credit: Wikipedia)

The BBC reports that Eurozone finance ministers agree to extend a further bailout loan to Greece as well as debt relief, in what they call a “major breakthrough”.

Source: Greece bailout: Eurozone agrees ‘breakthrough’ debt deal – BBC News

The breakthrough is that the IMF‘s insistence on debt relief has finally won the day.

Whilst I am no great fan of the IMF and its bitter medicine, I respect it as an internationally institution with some of the finest economic brains in the World. As for the other members of the troika, they are part of the problem, just as much as Greece herself.

The ECB has repeatedly had its powers curtailed by Germany.

Similarly, the EU has been Angela Merkel‘s puppet.

It’s no surprise they Greece has pulled back from further austerity. Look at the terrible lives of the Greek people. They have made mistakes but they deserve better.

BUT the true villains who have escaped attention are the French and German banks who gave uncommercial loans to Greece in the first place. So far, these banks have not suffered because they have had the patronage of Angela Merkel’s government.

Ultimately, it’s the Euro and the structure supporting it that has been responsible for the context. Germany has benefited enormously from the Euro and is not prepared to adjust its economic policy for Europe benefit.

It is time for the German and French banks to be held accountable.


The Refugee Policy the EU Needs Today – Carnegie Europe – Carnegie Endowment for International Peace

Carnegie Endowment for International Peace in ...

Carnegie Endowment for International Peace in Washington, D.C. (Photo credit: Wikipedia)

This is an excellent article from leading think tank, Carnegie Europe. It argues that the current priorities in EU asylum policy are all about implementing the March 2016 refugee deal with Turkey in good faith.

Source: The Refugee Policy the EU Needs Today – Carnegie Europe – Carnegie Endowment for International Peace

Most ordinary European people are uncomfortable with the EU’s refugee policy. They feel frighten and threatened. Further, they see Germany leader, Angela Merkel, bending Europe’s foreign and defense policies to accommodate Turkey’s aspirations.

Surely it’s time for Europe to listen to the people on immigration and refugee policy?

Perhaps, it’s time for Carnegie to suggest that America takes more refugees?