By Barry Grey
13 July 2015
Meeting late into Sunday night, euro zone heads of government issued new ultimatums to Greece that would effectively strip the country of its sovereignty and turn it into an economic colony of the German banks.
The German government has been the most aggressive in insisting that either the Greek parliament pass a series of laws by Wednesday night imposing an array of onerous measures or Greece will be expelled from the common European currency. That would likely precipitate an immediate collapse of the Greek economy.
A draft statement by euro zone officials listing their conditions for initiating talks on a new bailout includes: higher budget surplus targets and automatic spending cuts if these targets are missed; more sweeping cuts in pensions; higher regressive sales taxes; more extensive privatizations of public institutions; the gutting of protections against layoffs; the imposition of restrictions on collective bargaining and the right to strike; and the scrapping of laws passed since Syriza came to power that “have not been agreed with the institutions [the European Union, European Central Bank and International Monetary Fund] and run counter to the program commitments.”
Another demand discussed at the meeting was for the Greek government to place €50 billion in public assets in a fund controlled by an outside firm, to be used to pay down the country’s debt. That sum is approximately equal to the size of the loan Greece is requesting from the EU’s European Stability Mechanism. (Read more)
Further coverage on Greece can be found here.
Euro Zone Agrees To Move Forward With Bailout Loan For Greece
Euro zone leaders made Greece surrender much of its sovereignty to outside supervision in return for agreeing to talks on an 86 billion euros bailout to keep the near-bankrupt country in the single currency. Read more.
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2015 marks the 50th anniversary of Medicare, Medicaid, and the Older Americans Act, as well as the 80th anniversary of Social Security. The 2015 White House Conference on Aging is an opportunity to recognize the importance of these key programs as well as to look ahead to the issues that will help shape the landscape for older Americans for the next decade.
9:55 AM – Morning Session & Panel 1: Caregiving in America
11:15 AM – President Obama Delivers Remarks
11:35 AM – Panel 2: Planning for Financial Security at Every Age
1:20 PM – Afternoon Session
2:05 PM – Panel 3: The Power of Intergenerational Connections and Healthy Aging
2:50 PM – Panel 4: Empowering All Generations: Elder Justice in the 21st century
3:50 PM – Panel 5: Technology and the Future of Aging
4:30 PM – Closing Remarks
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