More perspectives on Greece

“The advantages far outweigh the disadvantages,” Chancellor Angela Merkel of Germany told a news conference, explaining her decision to accept the deal and recommend that the German Parliament also grant its approval.

“The country which we help has shown a willingness and readiness to carry out reforms,” said Ms. Merkel, who was referring to Greece.

Ms. Merkel said a fund would be created to use the proceeds from privatizing parts of the Greek economy to help pay down its debt. That fund would be “to the tune of” 50 billion euros, or about $55 billion, she said without elaborating. 

The New York Times: European Leaders Reach Deal to Resolve Greek Debt Crisis, July 13, 2015 

The widening gulf between eurozone hawks and doves paves the way for an acrimonious summit on Sunday, with France and Italy lining up against Germany and the northern and eastern Europeans. Matteo Renzi, the Italian prime minister, is expected to tell chancellor Angela Merkel that enough is enough and that Greece should not have to put up with any more humiliation.

Merkel is under intense pressure from the Americans not to “lose” Greece and is worried about her own legacy. But Greece fatigue is becoming endemic in Germany, and she faces growing unrest in her party ranks where Schäuble’s hard line is popular. She was said to have endorsed Schäuble’s tough position. 

The Guardian: Greece nears euro exit as bailout talks break up without agreement, July 12, 2015

The Left Platform of Syriza with an alternative plan that includes leaving the eurozone, huck on how degrowth might ensure the future of Europe, bookforum with an extensive list of links about What Makes A Good European?, Germany floating the idea that Greece might take a time-out from the Euro for five years revealed a rift between France and Germany, Paul Krugman calls the Eurogroup's list of demands "madness", and the negotiations are breaking up Syriza (and what does it say about the European Union if the outcome of all of this is a regime change, considering that Syriza had a mandate for its policies?).