Greece

Greek Foreign Ministry criticizes Turkey over failure to reach agreement in latest round of talks on Cyprus

Greece's Foreign Ministry has criticized Turkey over failure to reach an agreement to settle the Cyprus issue in the new round of talks in Switzerland.

In a statement titled "Hard truths" and posted on Greek Foreign Ministry's website on Saturday evening, the ministry says "Turkey's conduct dashed any hopes anyone had that there would be a change in its stance. Just as Turkey abandoned the initial Conference, it torpedoed the second."

"We reiterate that Greece will continue to work relentlessly, with all means at its disposal, for a just and viable solution to the Cyprus problem, in close cooperation with the Republic of Cyprus, the UN and the European Union. And it calls on all of the parties to the Conference to show responsibility, respect for international law, and self- restraint," the statement concluded.

Greece’s Sovereign Debt And Economic Realism

Next an extra six months of discussions, Greek deficit negotiations succeeded in once again kicking the can down the road. This column analyses how sophisticated and experienced negotiators like the IMF, the Eurozone leadership, and by presently even the Greeks, could have let negotiations drag out for so a lot of years, and goes on to propose a plan which may be just radical enough to meet the needs of all parties.

Next an extra six months of discussions, Greek deficit negotiations succeeded in once again kicking the can down the road. Europe agreed to ‘lend’ Greece enough to cover the all it will ‘repay’ to private creditors, the ECB, and IMF next month, plus a bit additional to cover interest and the domestic arrears the Greeks have built up in manufacturing their current reported primary surplus. Further resolution is left until next the September German elections, and maybe until as late as April 2019 at the same time as some private deficit is due. The IMF, which rightfully claims the deficit is not sustainable, managed to neither approve nor disapprove of the new transaction.