Germany, France talking tough to Greece

Greece is trying to wiggle out of its commitments to bring down its massive budget deficit in two years, wanting to stretch the time period out to four. But the two biggest economies in Europe, Germany and France, are sending a message to Greece that no extension is viable. Reuters: A source close to the French presidency said the two leaders had wanted to have a "straightforward" talk on a host of hot-button topics, from the euro zone to Syria. Hollande plans to visit Spain on August 31 and Italy in early September, the source said. Both countries have seen their borrowing costs shoot up this summer amid market fears that the euro zone may start to unravel. Samaras has given interviews to German media stressing that while Athens may seek more time to meet its fiscal targets, it is not asking for more money. But German Finance Minister Wolfgang Schaeuble and others seemed unconvinced. "More time is not a solution to the problems," Schaeuble said, addressing Samaras' hopes ...(Read Full Post)