No sooner had it been announced that a Greek debt deal had been reached today, than it was back to the drawing board.
The BBC has reported that:
"German Finance Minister Wolfgang Schaeuble said the Greek plan was "not at a stage where it can be signed off". The Greek government brokered a deal after days of negotiations between the parties in its fragile coalition. Few details of the plan have been released, but unions have already called a 48-hour strike in protest. Luxembourg's Prime Minister Jean-Claude Juncker, head of the so-called eurogroup of finance ministers, said he doubted whether the Greek plan was ready for approval. "I do not have reasons to believe that there will be a definitive deal this evening," he told reporters as he arrived for the Brussels meeting. But he hailed the progress Greece had made and said eurozone countries were likely to thrash out a deal with Athens by next week."
Opinion: Greece appears to be in a no win situation. Some officials in the EU want their pound of flesh. Perhaps they should remember that you cannot get blood out of a stone. It has been reported that Greece is already in a deep recession and further cuts will make this situation worse. Greek unemployment has hit 20% and is still rising. Severe austerity measures will mean more job cuts.
Whilst the EU is not a charity Greece can only give so much. The "fat cats" of Europe will have a pleasant meeting no doubt. Yes many can say that it is hard work but it also reaps rewards. Nice warm meetings held in foreign climes. Travel in the most comfortable limos and planes. Surely a waste of money in such austere times?
After all the people meeting have played a big part in the economic woes of Europe. Are they personally feeling the financial pinch now?
Updates on what is becoming a fiasco later.