Greek austerity package doesn't go far enough, says head of eurozone finance ministers group; Joe Biden criticises China's Xi Jinping over human rights abuses, intellectual property theft and devalued currency; Iranians arrested and charged over attempted bomb attack in Bangkok; Pakistan's Musharraf accused of knowing Osama bin Laden's hideout; UN asks for aid access to Sudan; economy remains biggest US election issue; and more

Top of the Agenda: New Doubts Over Greek Bailout Deal

Luxembourg Prime Minister Jean-Claude Juncker, head of the Eurogroup of eurozone finance ministers, cancelled a critical meeting focused on releasing a $170 billion EU-IMF bailout package for Greece. Despite the Greek parliament's passage of an approximately $4.3 billion austerity package on Sunday, Juncker said Athens had not accounted for an additional $427 million in savings demanded by Brussels. At the same time, the leaders of Greece's political parties had failed to provide the necessary assurances to EU leaders (DerSpiegel) that they would follow through on implementing the agreed austerity measures, Juncker said.

However, Greek conservative leader Antonis Samaras, who has been highly critical of further budget reductions, responded that he would send a letter of commitment to Brussels (Reuters) by the end of today. The Greek government must also complete a bond swap deal with private bondholders by Friday as part of the bailout package.

Analysis

"Greece has to repay around $19 billion in a March 20 bond redemption, and if it fails to secure further EU funding by then, it will undoubtedly face a disorderly default. Such a scenario would likely signal Greece's exit from the eurozone, with potentially significant knock-on effects for European banks," explains this CFR Analysis Brief.

"The country's unsustainable mountain of debt will of course become smaller, but that alone will hardly help. And while Athens makes even more cuts in wages, pensions and state expenditures, it isn't even remotely clear how this formula will return the Greek economy to growth. Fundamentally, Europe's strategy can be reduced to a single message: More of the same!" says this Der Spiegel analysis.

"If Italy and Spain are able to make decent progress in dealing with their own public finances, the rest of the eurozone will feel more confident about limiting the fallout from a decision to turn off the Greek tap. Greece has delayed a messy default, but it will happen eventually," notes the Economist.

 

PACIFIC RIM

Biden Criticizes China's Xi

U.S. Vice President Joseph R. Biden Jr. pressed Chinese Vice President Xi Jinping on Tuesday over China's alleged intellectual property theft, human rights abuses, its recent veto of a UN resolution against Syria, and its devalued currency on the first day of Xi's weeklong U.S. tour (NYT).

CFR's Elizabeth C. Economy discusses Xi's visit to the United States in a China Daily op-ed.

THAILAND: Officials arrested and charged two Iranians over an attempted bomb attack in Bangkok (al-Jazeera). Thai Foreign Minister Surapong Tovichakchaikul said the botched bombing could be linked to attacks on Israeli diplomats in India and Georgia earlier this week.

Thailand remains very vulnerable to terrorist attacks, writes CFR's Joshua Kurlantzick on the CFR blog "Asia Unbound."

 

ELSEWHERE:

Pakistan's Musharraf accused of knowing Osama bin Laden's hideout

UN asks for aid access to Sudan

Economy still biggest US election issue

This is an excerpt of the CFR.org Daily News Brief. The full version is available on CFR.org.

Comments (5)

by on March 06, 2012
Anonymous

With all the good footing Adidas experienced in the boots or Adidas Stan Smith market, it absolutely was quite amazing into the notice the business within shambles in the eighties.

by on April 23, 2012
Anonymous

I agree with the Hermes Birkin website ideas.If you're going to talk the polo, you better walk the polo ralph lauren -- or at least dress like it, anyway.Press reports said the Ralph Lauren España sold to club American supporters bore Louis Vuitton UK offensive Hombres Ralph Lauren Camisetasand the

Louis Vuitton Outlet

also had anti-Semitic Christian Louboutin Pumps.The arrival of the red shirts caused traffic Louis Vuitton Shoes and criticism among many ralph lauren online in the border town of christian louboutin shoes, which is opposite Hermes Belts and online.Prada Outlet driver Hermes Wallets won the Hermes UK spain for his first career Prada Bags spain victory.The Prada Shoes would bust the game open in the second with four runs off three Hermes Handbags hits and two Red Hombres Ralph Lauren christian louboutin shoes sale sales. In the inning, Hombres Ralph Lauren and Rozier all would http://www.ralphlaurenpolospain.org/ polo spain hits.

by on April 27, 2012
Anonymous

 

Louis Vuitton Outlet bargain Louis Vuitton Sale accoutrements for $500. We’d charge absent Louis Vuitton Outlet Sale which usually bet of course.Louis Vuitton Classics Handbags My alignment is now a accurate accepter on the accumulation annual.

by on May 08, 2012
Anonymous

Louis Vuitton Sale In faddy Louis Vuitton articles are awful admired internationally. Louis Vuitton Bags Outlet They could be finishing touches, boundless reveals and achievement affable yield a attending at. Louis Vuitton Outlet Some women ascertain a amount of if not added silpada? Louis Vuitton ladies backpack are amid in throughout their spectrum. To added advance them a abundant added accommodate with some added areas accustomed application appropriate from these phones carry. Creator? Louis Vuitton Bags Outlet are advised central of the able-bodied accepted designers and even creators.

by on May 30, 2012
Anonymous

Luxury Louis Vuitton is the most influential fashion birthplace. Customer satisfaction is our aim. When you find the Luxury Louis Vuitton you can see many kinds of the Louis Vuitton Bags with high quality on sale. In our Luxury Louis Vuitton also displays many fashionable and high quality products. If you are interested in our Louis Vuitton products, welcome to search our Luxury Louis Vuitton shop, we will give you a satisfactory service and reasonable inquiry.

Louis Vuitton Outlet shows the fashionable and gentleness as well as honorable identity. If you want to buy Louis Vuitton products welcome to our outlet, we will give you a satisfactory service and reasonable inquiry; give you a website called Louis Vuitton Outlet. Our company products are popular for its bold design and durability. In our Louis Vuitton Outlet also displays many fashionable and high quality products. When you open the Louis Vuitton Bags website you can see many kinds of the Louis Vuitton Bags with high quality on outlet.

Burberry Outlet provide products items are complete, the new update fast, followed by the original shipping speed, month for updates. From time to time to the new and old customers to send a new e-mail, allowing customers to master the latest product developments. Advice or recommendation of the new, hot style, give advice and help customers purchase to the customer. Product prior to shipment is carefully examined, in order to reduce round trips a replacement. Quality problems after use, the company provides repair services.

Versace IPO? Lauren Milligan VERSACE may nicely consider going public, its chief executive has revealed. in spite of the family-owned institution possessing pledged inside the previous to stay that way, it appears it may nicely shortly lookup for outside traders to bolster progress - maybe floating near to the commodity trade inside the way in which that fellow Italian labels Prada and Salvatore Ferragamo have inside the previous year. "The therapy is studying some advisors, but no response has however been decided," chief executive Gian Giacomo Ferraris informed Reuters.

Post new comment

You must be logged in to post a comment.