• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 2 hours Rioting and Protesting
  • 28 mins Trump waves a Bible
  • 2 mins Anti-Lynching Bill
  • 8 hours Model 3 cheaper to buy than BMW 3 series.
  • 3 hours Thugs in Trumpistan
  • 9 hours Sudan Rice claims Russians are behind recent US riots
  • 10 hours National Guard kills again
  • 8 hours China to Impose Dictatorship on Hong Kong
  • 9 hours Coronavirus hype biggest political hoax in history
  • 6 hours Let’s Try This....
  • 9 hours We Are Better Than This
  • 19 hours China’s Oil Thirst Draws an Armada of Tankers
  • 9 hours Obamagate Is Not a Conspiracy Theory
  • 23 hours WHY was George Floyd Murdered and Why Publicly

Global Energy Advisory – 26th June 2015

Politics, Geopolitics & Conflict

Greece on the Brink

The back and forth between Europe and Greece over the past few weeks is reaching its denouement. Earlier this week it appeared as if Greece and its European overlords – EU member states led by Germany, the European Central Bank, and the International Monetary Fund – were close to a deal. But in the last few hours things have taken a gloomy turn.

After several days in which many insiders and analysts insisted that a deal was “very close,” they have failed to find common ground. And in the last 24 hours, it appears that Europe has toughened its stance, rejecting Greece’s latest counteroffers. Europe is demanding deeper cuts to pensions, a faster raise of the retirement age, removal of subsidies for farmers, among other austerity measures. The demands can only be interpreted as an ultimatum just a few days before Greece has to meet a $1.7 billion debt payment to the IMF – Greece has to either agree to Europe’s terms or blow past the deadline for repayment, likely triggering a default, bank failures, and potentially an exit from the Eurozone currency union.

Complicating matters further is the fact that even if Greek Prime Minister Alexis Tsipras agrees to Europe’s demands, he has to sell the package to his parliament and public back home. Elected on an anti-austerity platform, he would have to agree to significant austerity policies if Greece is to avoid…




Oilprice - The No. 1 Source for Oil & Energy News