by Bill McBride on 6/14/2015 07:15:00 PM
Sunday, June 14, 2015
Looking grim. The Germans do not understand there is a limit to the cycle of more austerity, and more economic depression ... eventually, in a democracy, the people will say "no".
From the Financial Times: Greek default fears rise as ‘11th-hour’ talks collapse
“Greek movement [is] not discernible,” said a senior eurozone official. “I think they do not want a solution.”From Reuters: Greece and creditors fail in 'last attempt' to reach deal
[I]f Europe wants a split and the humiliation to continue, we’ll take the decision to say no, a big no, and we’ll fight for the dignity of our people and our national sovereignty.” [said Greek prime minister Alexis Tsipras, ]
excerpt with permission
European Union officials blamed the collapse on Athens ... Greece retorted it was still ready to talk ...
"This is very disappointing and sad. It was a last attempt to bridge our differences but the gap is too large. One can discuss a gap, but this is an ocean," said a person who was close to the talks.
Following what it called this "last attempt" at a solution, the EU's executive Commission said euro zone finance ministers would now tackle the issue when they meet on Thursday.