Angela merkel

‘The Greek people,’ the Financial Times leading article said on Monday, ‘would be well advised to listen closely to the words of Ms Merkel. The plebiscite will be a vote for the euro or the drachma, no less.’ It is interesting how menacing powerful ‘moderate’ institutions can become when popular feeling challenges them. In the eurozone theology to which the FT subscribes, its statement above cannot be true. It is not possible (see last week’s Notes) for a member state to leave the euro, any more than it is for Wales to renounce sterling. Eurozone membership, once achieved, is a condition of EU membership. So the Greeks cannot vote to

The Greek government is making one final throw of the dice. Just hours before Greece is set to default on its €1.55 billion payment to the IMF, Athens has proposed a new two year bailout from the Eurozone, funded by the European Stability Mechanism set up in 2012. Asking for a third bailout within hours of the second one drawing to a close shows just how keen the Greek government is to remain in the Eurozone. But this does not mean they are giving into their creditors’ demands. In a statement this afternoon, the Greek government said it still wants better terms: ‘From the first moment, we made clear that the decision

This podcast is sponsored by Berry Bros, The Spectator’s house red. Germany has just as much to worry about from a Grexit as Greece. On this week’s View from 22 podcast, economist Fredrik Erixon and James Forsyth discuss this week’s Spectator cover feature on the challenges Angela Merkel faces to keep her beloved European project on the road. It also presents an opportunity for David Cameron to get a better deal for Britain during his renegotiations — can he make the most of the present situation? Freddy Gray and Owen Bennett, author of Following Farage, also discuss Ukip’s flirtation with the American right and the impact it had on the party’s election performance. What role did Farage’s ex-senior adviser Raheem Kassam

The Greek crisis has been going on for so long now, it is hard to imagine it actually coming to a conclusion. But next week’s meeting of European Finance Ministers is one of the last chances for a deal to be struck. However, there is no sign of an agreement yet. The Financial Times today picks up on German press reports about the German government preparing for Greece leaving the Euro. The Germans have long been convinced that any contagion from Greece leaving the single currency could be contained privately many in Whitehall think that Berlin is far too complacent about this. Now, it appears that Merkel is turning her

There’s nothing to add to Martin Vander Weyer’s item about Hellas of two weeks ago in these here pages except a Yogi Berra pearl, ‘It ain’t over till it’s over.’ The Greek drama will go on and on until the brinkmanship is exhausted. The EU has blinked, as I thought it would. Although Greek accounting arabesques have been known to shame the Bolshoi — Goldman Sachs taught the modern Hellenes how to legally cook the books and screw Brussels, something we are now paying the price for — we Greeks have contributed a few things apart from cheating and not paying our taxes. As Michael Daley wrote in a letter

Home A Bill to enable a referendum on whether voters wanted Britain to ‘remain’ in the European Union figured in the Queen’s Speech. Another Bill prohibited any rise in income tax rates, VAT or national insurance before 2020. Tenants of housing associations would be given the right to buy their homes. Provision for Scottish devolution was promised in fulfilment of the recommendations of the cross-party Smith Commission. A ‘powerhouse’ in the north was to come into being through cities being given powers over housing, transport, planning and policing. Laws on strikes would be tightened. Red tape for business would be reduced, and a new quango set up to invigilate late

Veterans of Eurozone crisis summits, hoping for another nail-biting drama, had queued to get ringside seats. But yesterday’s meeting over Greece with Eurozone Finance Ministers ended without result. And you shouldn’t be surprised. We’ve been here many times before – Eurozone committees keep minutes but lose hours – and this was not a meeting during which decisions were to be taken. While some Eurozone watchers have convinced themselves that there is now a new script for Greece’s relation with its Eurozone creditors, no Eurozone government but the Greek share that view. It’s not just that other capitals are hostile to Greece’s own game plan of forcing other governments to make a new

The good news is that a Greek suppository is about to relieve the EU’s economic constipation. The bad is that there’s a Castro in our midst posing — just as Fidel did 56 years ago — as a democratically elected populist. Back then it was Uncle Sam who was the bogyman. Now it’s the EU. Back then the Soviet Bear came to Fidel’s rescue. Now it’s Putin. Personally, I’d take Vlad over the faceless unelected Brussels gang anytime. The problem is Tsipras, a vulgar-sounding name if ever there was one. Add to it the fact that he has two sons, one named after Che Guevara, the other after Carlos, the