Can a Few Chocolate Euros Stop a Grexit?

Can a Few Chocolate Euros Stop a Grexit?

FILE PHOTO - Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem meets with Greek Prime Minister Alexis Tsipras (not pictured) in the Maximos Mansion in Athens, Greece, September 25, 2017. REUTERS/Alkis Konstantinidis
ALKIS KONSTANTINIDIS
By Reuters

German Finance Minister Wolfgang Schaeuble has clashed repeatedly with Yanis Varoufakis over Greece's debt and economic reforms since the leftist Syriza party took power in January, pledging to end austerity and renegotiate the bailout terms.

In an interview with the children's television program "Logo" on German broadcaster ZDF last week, a girl reporter gave Schaeuble a supportive handful of the chocolate coins.

"I'll take a few for my Greek colleague, he also needs strong nerves," Schaeuble replied.

Greece hopes to secure a cash-for-reforms deal with its lenders this week. But after four months of tortuous negotiations no breakthrough is in sight. Without a deal Athens risks default or bankruptcy in weeks.

Does Paul Ryan Have ‘His Eyes on the Exits’?

FILE PHOTO: Speaker of the House Paul Ryan (R-WI) speaks during a press briefing on Capitol Hill in Washington
Joshua Roberts
By The Fiscal Times Staff

Politico’s Tim Alberta and Rachael Bade drop a blockbuster: “Despite several landmark legislative wins this year, and a better-than-expected relationship with President Donald Trump, Ryan has made it known to some of his closest confidants that this will be his final term as speaker. … He would like to serve through Election Day 2018 and retire ahead of the next Congress. This would give Ryan a final legislative year to chase his second white whale, entitlement reform, while using his unrivaled fundraising prowess to help protect the House majority—all with the benefit of averting an ugly internecine power struggle during election season.”

Speculation has been swirling that Ryan could step down once “he’s harpooned his personal white whale of tax reform,” as HuffPost put it.

When asked at his weekly press conference whether he’ll be quitting anytime soon, Ryan chuckled and said, “I’m not, no.”

EU Finance Ministers Warn Mnuchin About Tax Plan

By The Fiscal Times Staff

The finance ministers of Europe’s five largest economies — Germany, France, the U.K., Italy and Spain — warned that the Republican tax plan could have “a major distortive impact” on international trade and may violate international treaties. "The inclusion of certain less conventional international tax provisions could contravene the U.S.'s double taxation treaties and may risk having a major distortive impact on international trade," the ministers wrote in a letter to Mnuchin.

Trump’s Plans for Welfare Reform Will Hit Health Care, Housing and Veterans

iStockphoto
By The Fiscal Times Staff

Politico reports: “The White House is quietly preparing a sweeping executive order that would mandate a top-to-bottom review of the federal programs on which millions of poor Americans rely. And GOP lawmakers are in the early stages of crafting legislation that could make it more difficult to qualify for those programs. … The president is expected to sign the welfare executive order as soon as January, according to multiple administration officials, with an eye toward making changes to health care, food stamps, housing and veterans programs, not just traditional welfare payments.”

It’s Official: No Government Shutdown – for Now

iStockphoto/The Fiscal Times
By The Fiscal Times Staff

President Trump signed a short-term continuing resolution today to fund the federal government through Friday, December 22.

Bloomberg called the maneuver “a monumental piece of can kicking,” which is no doubt the case, but at least you’ll be able to visit your favorite national park over the weekend.

Here's to small victories!