Behind Turkey’s volte-face on Isis, President Recep Tayyip Erdogan is fishing for nationalist votes by tarring as terrorists the pro-Kurdish coalition, argues David Gardner

Something is rotten with the eurozone’s hideous restrictions on sovereignty, writes former Greek finance minister Yanis Varoufakis, in response to allegations he planned to hack Greece’s tax system Read more

Once again, it was an agonisingly long piece of Greek parliamentary theatre. But once again, in the early hours of Thursday morning, Alexis Tsipras came out on top.

For the second time in a week, the prime minister survived a mini-rebellion in his radical leftist Syriza party and, with the help of opposition parties, passed a set of reforms required to secure a new, €86bn financial rescue from Greece’s international creditors. Read more

Who loses most from the Greek rescue deal?
On Monday Athens was given a long list of economic reforms it needed to implement in return for another EU bailout. Was it a humiliation for the Greeks or a capitulation by the Germans? Gideon Rachman and Wolfgang Munchau discuss who was the biggest loser.

  • Amid the political noise, the historic nuclear deal between Iran and international powers is a victory for pragmatism in Tehran, writes Roula Khalaf
  • Greece’s creditors have destroyed the eurozone as we know it and demolished the idea of a monetary union as a step towards a democratic political union, argues Wolfgang Münchau
  • Republican presidential hopeful Donald Trump offers a megaphone to the noisy minority of Americans who believe they are losing the battle with modernity, writes Ed Luce
  • Europe’s creditor-in-chief has trampled over values like democracy and national sovereignty, and left a vassal state in its wake. Which country will be next? asks Philippe LeGrain (Foreign Policy)
  • We apologise to Marxists worldwide for Greece refusing to commit ritual suicide to further the cause. We elected a good, honest and brave man, who fought like a lion, writes Alex Andreou (Byline)

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By Gideon Rachman
Europe woke up on Monday to a lot of headlines about the humiliation of Greece, the triumph of an all-powerful Germany and the subversion of democracy in Europe.

  • Scott Walker, the “regular Joe” governor of Wisconsin and Republican presidential hopeful, needs to shrug off concerns that he is a foreign policy lightweight in his run for the White House
  • Young people are shunning cocoa farming in Ghana, leading to fears that production and productivity could be harmed in the world’s second-biggest grower of the soft commodity
  • Mexico’s most wanted drug lord, known as “Shorty”, has pulled off his second sensational jailbreak in 15 years – dealing a blow to the government which had taken pride in capturing top crime kingpins
  • A full transcript of the first interview with Yanis Varoufakis, the former Greek finance minister, since his resignation (New Statesman)
  • A nationalist militia in Ukraine engaged in a standoff with soldiers and police following a gun and grenade attack after its fighters confronted supporters of a local MP critical of the group (The Telegraph)

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Late on Thursday night Greek prime minister Alexis Tsipras submitted a new plan for his country’s economic overhaul to bailout monitors. The clock is now ticking. Will it be accepted, or, come Sunday, will Greece topple into bankruptcy?


With the clock ticking towards Sunday and an emergency summit of all 28 EU members, Greece has only days to reach an agreement with its creditors or face bankruptcy.

All eyes on Wednesday were on Alexis Tsipras as he addressed the European Parliament and submitted a fresh bail-out application, even as European Commission president Jean-Claude Juncker said preparations were in place for humanitarian aid for Greece in the event of “Grexit”.

Angela Merkel, German chancellor, had insisted that Athens come up with a full range of reforms that could cover a multi-year rescue programme.


After the overwhelming No vote, the focus today is back on Greece’s negotiations with Brussels, culminating in Alexis Tsipras’s government being given a final chance by eurozone leaders to present new reform proposals this evening.

The meetings will also mark the introduction of new Greek finance minister Euclid Tsakalotos, an Oxford-educated Marxist, who replaced Yanis Varoufakis after he was asked to step down in a conciliatory move by Mr Tsipras.

Elsewhere, eyes will be focused on Greek banks, which remain closed for the next two days. The ECB may also have to ask eurozone leaders to guarantee Greek government debt for use as collateral to maintain its liquidity lifeline.


By Gideon Rachman
Greece’s No vote was greeted with euphoria in Athens’s Syntagma Square: the fountains were bathed in red light, the flags waved, the crowds sang patriotic songs. Alexis Tsipras, the prime minister, had said the vote was about national pride and his message had struck home. One young woman, a freelance journalist, confided: “I actually voted Yes. But part of me is glad Greece said No. We are a small country, but we have a big history. This is about our dignity.”

  • July 2015 will go down in history as a continuation of hell for Greece, whose leftwing government has brought catastrophe to the nation, argues Tony Barber
  • The beginning of the end for Yanis Varoufakis, Greece’s finance minister who has just stepped down, began not in Athens, or even Brussels or Berlin, but in the small Baltic capital of Riga
  • Though Ivory Coast has staged a successful comeback since its civil war, some say the focus on the economy at the expense of reconciliation could come back to haunt the country
  • Mexico’s government wants to tame the disruptive teachers’ union which has seized public plazas, burned government buildings and choked off a city’s gas supply (Washington Post)
  • “Germany has never repaid”: In a forceful interview, French economist Thomas Piketty calls for a major conference on debt (Medium, orginally published by Die Zeit)

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After delivering a decisive No vote in Sunday’s referendum, in which voters backed Athens’ call to reject a compromise with international creditors, Greece is facing the prospect of even greater turmoil as it tries to tries to prevent the collapse of a financial system that is rapidly running out of cash.

Prime minister Alexis Tsipiras has said he is ready to resume talks immediately, while politicians and officials in the rest of the eurozone are holding a series of meetings to decide what to do next.

Key developments so far:

● Greek PM Tsipras will present fresh bailout proposals at the EU summit on Tuesday
● Greek finance minister Yanis Varoufakis quits and is replaced by Euclid Tsakalotos, previously the coordinator of negotiations with Greece’s lenders
● Markets remain relatively unruffled after No vote
● ECB governing council increases the haircut on the collateral posted by Greek banks in exchange for emergency liquidity


  • Angela Merkel is taking her revenge on Greek prime minister Alexis Tsipras by insisting there can be no more talks on the country’s debt crisis until after its referendum on the bailout on Sunday
  • After China’s main stock index fell by 5 per cent yesterday, investors are blaming the share collapse on the securities regulator and the shadowy world of margin lending
  • An Egyptian soap opera set in a neighbourhood in old Cairo circa 1948 offers an empthatic portrayal of the Jewish community – and casts Islamists as the bad guys
  • Yes? No? Greek Voters Are Perplexed by a Momentous Referendum (New York Times)
  • In Ramadi, the Islamic State settles in, fixing roads and restoring electricity (Washington Post)

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By Gideon Rachman
The shuttered banks of Greece represent a profound failure for the EU. The current crisis is not just a reflection of the failings of the modern Greek state, it is also about the failure of a European dream of unity, peace and prosperity.

Global equities, the euro and German Bund yields are all sharply lower as markets react to the imposition of capital controls in Greece. Greek banks are closed this morning, triggering long queues at ATMs.


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After another day of negotiations the Greek government has failed to reach an agreement with its bailout monitors – the International Monetary Fund, the European Commission and the European Central Bank – on Athens’ reform plans.

Eurozone finance ministers are going to meet again on Saturday to try and broker a deal before the Greeks’ June 30 deadline to repay €1.5bn to the IMF.


Greek Prime Minister Alexis Tsipras flew to Brussels on Wednesday morning to try to salvage a bailout deal amid increasing signs of unease among his nation’s creditors over the compromise offer he presented on Monday. Eurozone finance ministers held a meeting on Wednesday evening but without an agreement in place after a day of tense negotiations, it was expected that talks would have to continue on Thursday, the first day of a planned EU summit of national leaders.

By John Aglionby, Ferdinando Giugliano and Mark Odell


By Gideon Rachman
As EU leaders head into this week’s emergency talks , they face a choice of three hazardous routes out of the Greek crisis. Route one involves making concessions to Greece. Route two involves standing firm and allowing Greece to leave the euro. Route three involves Athens largely accepting the demands of its creditors.

Eurozone leaders are scheduled to hold an emergency summit on Monday evening to try to reach a last-ditch deal with Greece on a new bailout and to prevent it from defaulting on debts that are due at the end of next week. Athens submitted new reform proposals overnight but eurozone finance ministers said after a meeting there would not be a deal today. Markets, which rallied early on Monday on the cautious optimism, remain upbeat despite the politicians delaying the deadline.

By John Aglionby, Ferdinando Giugliano and Mark Odell