“I was the lucky one coming here,” Theodore Xenos says from behind the counter of the Greek Superstore, a souvenir shop in Astoria that’s lined with Greek flags and sells everything from Greek pop music albums to “Opa!” adorned baby onesies
Despite what many are saying – especially those who do not have to bear the consequences of their words – Greek voters’ rejection on Sunday of the latest bailout offer from their country’s creditors did not represent a “victory for democracy.” In fact, it is quite the opposite.
German Chancellor Angela Merkel and French President François Hollande have called on Athens to present a plan for financing Greece. The two leaders met on Monday to discuss their strategy for today’s special Eurozone summit. Europe now has the chance to abandon its neoliberal austerity policy, some commentators write. Others point out that the costs of a Greek debt write-down would weigh heavily on all the countries of the monetary union.
Last updated at 1:30 p.m. GMT, July 8.
The resounding “No” uttered by the Greeks on Sunday offers yet more proof of their rejection of the vicious cycle of austerity. Angela Merkel now finds herself trapped between the will of the Greek people and the inflexibility of her finance minister. La Tribune reports.
Greece’s opposition parties are divided about ongoing negotiations between Athens and its creditors. Potami supports the Syriza-led government’s efforts, while New Democracy and Pasok are taking a hard line. EurActiv Greece reports.
France showed its true colours yesterday (8 July) when Manuel Valls said that a Greek exit from the eurozone would be an admission of the European Union’s impotence.
A third bailout Greek package will be decided on before an emergency summit on Sunday (12 July). Opposition to such a measure is growing within Germany’s centre-right. EurActiv Germany reports.
EU leaders will have a lot of soul searching to do today, following the victory by the “No” camp in the Greek referendum on Sunday (5 July), which rejected their proposed rescue package.
Greece’s recently-departed finance minister Yanis Varoufakis repeatedly argued that Greece could never leave the eurozone because there is nothing in the EU treaties that permits exit from the bloc’s common currency. But that hasn’t stopped EU lawyers from looking.