Tuesday, February 03, 2015

'You cannot keep on squeezing countries that are in the midst of depression,' says President Barack Obama, lining up with the Greeks

Germany will have to yield in dangerous game of chicken with Greece.

http://www.telegraph.co.uk/finance/economics/11384987/Germany-will-have-to-yield-in-dangerous-game-of-chicken-with-Greece.html

In Washington, President Barack Obama tilted even further towards the Greeks. “You cannot keep on squeezing countries that are in the midst of depression. When you have an economy that is in freefall there has to be a growth strategy and not simply an effort to squeeze more and more out of a population that is hurting worse and worse.”

This should be a cautionary warning to Brussels, Frankfurt and Berlin that they do not have a green light from the rest of the world to do as they like with Greece – however irritated they may feel by the [actions] of Alexis Tsipras. There are larger diplomatic and strategic matters at stake.

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