Eurozone on The Verge of Implosion as Greece Rejects Austerity

http://democracynow.org - Less than a month after the anti-austerity Syriza party swept to victory in Greece, a major dispute has broken out between Greece's new leaders and European finance ministers. On Monday, talks between Greece and its European creditors collapsed amid disagreement over the future of German-backed austerity. Greek negotiators rejected a deal to extend the terms of the current bailout scheme with no alterations to the austerity terms. Greece is reportedly now planning to submit a request to the eurozone to extend a "loan agreement" for up to six months, but Germany says no such deal is being offered and that Athens must stick to the terms of its existing international bailout. Lawmakers from the ruling Syriza party say Greek voters had rejected the terms of the bailout and that Greece would not be intimidated into accepting them. The breakdown in talks has raised fears Greece may be on the verge of leaving the eurozone. We are joined by British journalist Paul Mason, who has closely covered Greece's economic crisis for years.

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