Russia, Greece sign €2bn deal on Turkish Stream gas pipeline
EU shouldn’t view itself as ‘hub of universe’ – Greek PM
Europe shouldn’t view itself as a “hub of the universe” and it has to understand that the center of world economic development is shifting to other regions, said Greek Prime Minister Alexis Tsipras, speaking at St. Petersburg International Economic Forum.
Deposit flight from Greece's ailing banking sector has been running north of €500 million per day this week as the threat of capital controls casts a pall over the Greek government's efforts to reassure the public and head off a terminal bank run.
Sparking a panic has been the most powerful tool at the troika's disposal to bring PM Alexis Tsipras to the negotiating table and force Syriza to either concede to pension cuts and a VAT hike or risk social and political upheaval in the face of dark ATMs and public protests - we said this first in February and finally even the Greek government realized just what game Europe is playing.
Until now, Greeks had taken the barrage of headlines in stride with a stoic fortitude that would impress Marcus Aurelius but now, it appears as though the 'institutions' might have finally broken their spirits.