Either German leaves the Euro and return to the Mark, thus, leaving the Euro devalue among its economically weaker members, or a debt contagion, spreading throughout the globe, is inevitable. Is anyone listening here? A proactive German exit would require new leadership. New leadership usually doesn't come until the existing systems (economic, political, and social) implode.
Headline: EU Commission: Third bailout deal with Greece possible before August 20
BRUSSELS (Reuters) - Talks with Greece on a third bailout are moving ahead in a satisfactory way and reaching an agreement is possible before August 20, the European Commission said on Thursday.
The Commission comments were in response to remarks by a German government official in the Bild daily, that reaching a deal by Aug 20, when Greece has to buy back 3.5 billion euros of its bonds from the European Central Bank, was "not achievable".
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