Greek Prime Minister Alexis Tsipras resigned yesterday (20 August), hoping to strengthen his hold on power in snap elections after seven months in office in which he fought Greece's creditors for a better bailout deal but had to cave in.
Greek Prime Minister Alexis Tsipras is set to call early elections, state television said on Thursday (20 August), in a bid to quell a mounting rebellion in his leftist Syriza party and seal support to implement a tough bailout programme.
The Netherlands was the last eurozone state to endorse a third bailout for Greece Wednesday (19 August), as both the cabinet and parliament approved the package after a bruising debate. This means that Athens can receive the first installment as early as today.
German lawmakers overwhelmingly voted in favour of a third Greek bailout on Wednesday (19 August), heeding a call from Finance Minister Wolfgang Schäuble to give Greece the chance for a new start, despite his own concerns it might not work.
The German and Dutch parliaments are the last to vote on the €86 billion Greek bailout today (19 August). The Dutch government is likely to face a possible no confidence vote, while German Chancellor Angela Merkel’s coalition is expected to face a rebellion.
Greece's radical left Syriza government on Tuesday (18 August) approved its first privatisation granting a concession of more than a dozen key regional airports to Germany's Fraport-Slentel consortium in a deal worth 1.23 billion euros.
German Chancellor Angela Merkel insists the International Monetary Fund must participate in Greece's new bailout, but doubts about IMF involvement are complicating her bid to sell MPs the deal ahead of the key parliamentary vote on Wednesday (19 August).
German Finance Minister Wolfgang Schäuble’s latest plans for a euro tax have solidified the prospect of a transfer union, says Eurosceptic Bernd Lucke in an interview with EurActiv Germany . The founder of the Eurosceptic Alternative for Germany (AfD) party, argues that all the “talk about a Grexit” is just a bluff.
If we are to believe the stock markets, all is well in Europe. But markets are in danger of underestimating looming perils such as populism, a Brexit, German dominance and weakening European power, writes Andy Langenkamp.
Former Greek Finance Minister Yanis Varoufakis denounced the July bailout agreed between prime minister Alexis Tsipras and the eurozone leaders as a “new Versailles Treaty”. Quincy Cloet asks if this is a fair comparison.
Schaeuble's recent ideas are not likely to fly, but the controversy over the role of the Commission is only a part of a bigger debate in Europe: the dispute over what the future European Union should look like, write Stratfor's analysts.
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