Issue link: https://maltatoday.uberflip.com/i/540322
Newspaper post YOUR FIRST READ AND FIRST CLICK OF THE DAY WWW.MALTATODAY.COM.MT maltatoday SUNDAY • 12 JULY 2015 • ISSUE 818 • PUBLISHED EVERY WEDNESDAY AND SUNDAY ALEX VELLA GERA MATTHEW VELLA GREECE'S finance minister Euclid Tsakalotos yesterday faced the wrath of the Eurogroup's ministers, as they tore into the draconian aus- terity terms the left-wing Syriza government was now accepting, just a week since they were rejected by the Greek people in a landslide ref- erendum. It will be left up to heads of government in today's extraordinary European summit to de- cide on whether Greece is fit, trustworthy, and capable to deliver on a two-year, €12 billion savings programme of radical spending cuts and tax collection measures, in order to receive €74 billion it needs to repay its debts over the next three years. It includes €25 billion needed to recapitalise Greek banks. Tsakalotos endured hours of his counter- parts' criticism over Greece's delays in accept- ing negotiations with the Troika, and even calls to debate a possible exit from the eurozone, led by Germany, Finland, and even Slovakia. German finance minister Wolfgang Schäuble – believed to be taking a more hawkish stance than Chancellor Angela Merkel – yesterday pushed to have Greece deposit €50 billion in assets in an external fund in Luxembourg, and to accept automatic spending cuts to keep to its budgetary targets. But a leaked document shows that Germany is also proposing a five-year "timeout" for Greece to leave the eurozone so that it could have its debt restructured – which is not allowed under eurozone rules – and receive some form of humanitarian aid. PAGE 3 "The older generation of Maltese writers irritate me. They're presumptuous... there's a certain self- righteousness about them that's very annoying" INTERVIEW PGS 14-15 Alexis Tsipras's political gamble backfires as Eurogroup tells Greece they don't trust it to deliver reforms for €74 billion lifeline • Germany proposes 5-year Grexit DAYS OF CENSORS PAST Greece on the edge RAPHAEL VASSALLO toasts yet another nail in the coffin of the paternalist stranglehold • 12-13 €1.40 'Good luck Euclid... you're going to need it' Greek fi nance minister Euclid Tsakalotos is greeted by IMF chief Christine Lagarde was given a rough ride by all his Eurogroup counterparts as mistrust, Germany's strong reservations, and Finland's demand for a Grexit compromised the Greeks' position further DAYS OF CENSORS PAST DAYS OF CENSORS PAST DAYS OF CENSORS PAST