Like a tragedy from Euripides, the long struggle between Greece and Europe’s creditor powers is reaching a cataclysmic end that nobody planned, nobody seems able to escape, and that threatens to shatter the greater European order in the process. Greek premier Alexis Tsipras never expected to win Sunday’s referendum on EMU bail-out terms, let alone to preside over a blazing …
On Brink of ‘Irreparable Split’ Between Rich and Poor Nations, European Leaders Scramble – Lauren McCauley
In the wake of Greece’s historic ‘No’ vote this weekend, European leaders are scrambling to cement a new deal after the resounding rejection of the austerity program that has heretofore dominated fiscal policy and conversation. European Parliament President Martin Schulz confirmed that Greek Prime Minister Alexis Tsipras will address parliament plenary on Wednesday morning. Tsipras is expected to put forth a new …
Defying Troika, Greece Chooses ‘Democracy Over Fear’ With ‘No’ Vote on Austerity by Deirdre Fulton
News outlets are officially reporting that the ‘No’ side has won a decisive victory in Greece, rejecting a bailout offer from foreign creditors that would have imposed further austerity and economic hardship. Reuters reports that government officials “immediately said they would try to restart talks with European partners,” perhaps as soon as Sunday night. 25% of votes in, #oxi leading by 60%. Estimates that this will …
Are European authorities trying to force regime change in Greece? – MARK WEISBROT
It’s ironic but not surprising that the European Central Bank decided Sunday to limit its credit to Greece by enough to force the Greek banking system to close. This has pushed Greece closer to a more serious financial crisis than the country has had in the past five years of austerity-induced depression. Why did the ECB decide to take this …
Renewable energy redoubles its global reach By Alex Kirby
As the world economy and energy use both grew in 2014, renewables continued their rapid rise− but carbon emissions did not. LONDON, 27 June, 2015 − A significant threshold has been crossed by renewable energy as analysts report that the sectorʼs size last year reached double the level it was at just 10 years earlier. This expansion happened in a year when the global economy and energy …
Greece is a sideshow. The eurozone has failed, and Germans are its victims too – Aditya Chakrabortty
Nearly every discussion of the Greek fiasco is based on a morality play. Call it Naughty Greece versus Noble Europe. Those troublesome Greeks never belonged in the euro, runs this story. Once inside, they got themselves into a big fat mess – and now it’s up to Europe to sort it all out. Those are the basics all Wise Folk agree on. Then those …
EDWARD SNOWDEN: VINDICATED BY THE USA FREEDOM ACT? OR MARKED FOR DEATH? – Russ Baker
“Bullshit.” That’s how Hodding Carter III now describes the NSA surveillance program. But in an interview withWhoWhatWhy, the former Carter Administration official recalled how that same word could have just as easily described his initial reaction to Edward Snowden’s whistleblowing revelations in 2013. “I felt like Snowden was giving away the family jewels,” says Carter, his conversation a mix of …
Poroshenko says Ukraine is at war with Russia – Alex Lantier
In an inflammatory statement to the BBC yesterday, Ukrainian President Petro Poroshenko declared that his regime, which enjoys political and military support from Washington and the European Union (EU), is at war with Russia. “Can I be absolutely clear with you, this is not a fight with Russian-backed separatists, this is a real war with Russia,” Poroshenko said. He added …
U.S. Wakes up to “New Silk World Order” – Pepe Escobar
History may signal it all started with this week’s trip to Sochi, led by their paperboy, Secretary of State John Kerry, who met with Foreign Minister Lavrov and then with President Putin. Arguably, a visual reminder clicked the bells for the real Masters of the Universe; the PLA marching in Red Square on Victory Day side by side with the …
European powers seek to bomb Libya to stop migrants – Patrick Martin
The European Union is preparing to bomb targets in Libya to stop migrants from attempting to cross the Mediterranean Sea in small boats. EU foreign policy coordinator Federica Mogherini is to brief the United Nations Security Council Monday on plans for a “Chapter VII” resolution that would give a UN green light for the use of force. The plan is …