Greek Debt

Not Blinking First

Over to you, Mr. Schäuble.
  • Why it matters

    Why it matters

    • If Germany can reach a deal with Greece, the latest euro crisis could be quickly put to rest without jeopardizing the common currency.
  • Facts


    • Greece’s latest bailout program its lenders ends at the end of this month.
    • The ECB on Wednesday said it was cutting off Greek bank from its normal lending operations.
    • The Greek finance minister meets today in Berlin with his German counterpart.
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What a difference a week makes.

Just last week, Greece’s new ruling left-wing Syriza party was talking tough about getting Europe to ease its stranglehold on the Greek economy and cancel some of Athens’ debt.

But as its diplomatic offensive across European capitals unfolded this week, the new Greek government got more than a taste of just how tough its debt negotiations with European leaders are going to be.

Perhaps the harshest reminder came today when Greek Finance Minister Yanis Varoufakis met his German counterpart, Wolfgang Schäuble, in Berlin. After delaying a press conference for more than 45 minutes as talks dragged on, the two ministers told reporters that they had amicably “agreed to disagree,” at least for the moment.

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