Greece: Confusion reigns after Germany rejects loan extension proposal

As the biggest creditor and EU paymaster, Germany has the clout to block a deal which would leave Greece without a financial lifeline and potentially put it towards an exit from the eurozone. Erin weighs in. Edward talks to Dr. Pippa Malmgren, author of ‘Signals: The Breakdown of the Social Contract and the rise of Geopolitics’, who gives her take on the possibility of a Greek default and its potential effects. Steve Keen, head of the School of Economics, History, and Politics at Kingston University, tells us that new Greece Finance Minister Yanis Varoufakis is not as radical as some make him out to be. And in The Big Deal, Erin and Edward continue the discussion on Greece and the turmoil surrounding the German finance minister’s rejection of Greece’s proposal to extend its loan agreements.

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