Greek crisis: surrender fiscal sovereignty in return for bailout, Merkel tells Tsipras

European leaders have confronted the Greek government with a draconian package of austerity measures entailing a surrender of fiscal sovereignty as the price of avoiding financial collapse and being ejected from the single currency bloc.

A weekend of high tension that threatened to break Europe in two climaxed on Sunday night at a summit of eurozone leaders in Brussels where the German chancellor, Angela Merkel, and President François Hollande of France presented Greece’s radical prime minister, Alexis Tsipras, with an ultimatum.

In what a senior EU official described as an “exercise in extensive mental waterboarding” to secure Greek acquiescence to talks on a third bailout in five years worth up to €86bn (£62bn), the two leaders pressed for absolute certainty from Tsipras that he would honour what was on offer.

  • Reader
  • dance…dancetotheradio

    ‘surrender fiscal sovereignty’
    And thus Greece became Not Greece.

  • Ed

    Ok, so this is “THE GUARDIAN.” Left of the Toronto Star, the article’s vibe is that Greece is being treated shabbily… paying one’s bills is “waterboarding,”
    It’s all so eye rolling boring predictable.

    • My point in linking was to show that exact viewpoint, in my view there should be a pox on both their houses.

      • simus1

        Any government being run soap opera style by leftist idiots can count on solid support from “the Jupiter

  • Brett_McS

    But .. but … the voters have spoken!

    • In a non-binding referendum;)

    • Clausewitz

      Where can I sign up to vote for not having to pay my bills? Yeah I’d vote no, until I used two brain cells to realise the consequences of my actions. Proving once again that leftists don’t have two brain cells to rub together.

  • Helios Megistos

    The only reason as to why the money was borrowed in the first place is that the Champagne socialists in charge of Greece since the seventies wanted to reward an ever larger dependent class of government “workers” even at the cost of regular deficits and a ballooning debt; the same applies to Ontario and Quebec and France and the US! They chose to borrow it; they must pay it back; all they need to do is to privatize nearly everything and fire most of the public-sector union workers!

  • pdxnag

    It is my right to raid your fridge, because I voted for it.