News Now
- Greece teeters on the brink
- Obama: Greece & Europe – make a deal
- US, Cuba to announce embassy openings
- Iran deal deadline pushed back
- DoJ report faults police in Ferguson
- Seventh black church burns: Arson?
- Court: NSA can restart bulk data collection
- Hillary Clinton email dump: Carpets
- Jeb Bush tax returns dump
- Chris Christie: “I mean what I say”
Greece Teeters On the Brink (BBC, AP, me)
• Greece has missed the deadline for a payment of $1.72 billion to the International Monetary Fund, hours after eurozone ministers refused to extend its bailout. But the ministers say they will discuss a last-minute request from Greece for a new two-year bailout in a conference call today
• Stock markets across Europe surged higher today on a report on the Financial Times website that Greece will accept all the bailout demands of creditors bar a couple of changes. Greek PM Tsipras appears to be making big concessions
• Greece is the first advanced country to fail to repay a loan to the IMF and is now formally in arrears. There are fears that this could put Greece at risk of leaving the euro. Close to 1,000 banks re-opened in Greece today for those with pensions without bank cards to make a one-time withdrawal
• With the eurozone bailout expired, Greece no longer has access to billions of euros in funds and couldn’t meet its IMF repayment. The European Central Bank has also frozen its liquidity lifeline to Greek banks. Meanwhile, ratings agencies have further downgraded the country’s debt. Greece is cut off from all international financing and skating on thin ice
• Part of the new deal Greece has suggested would involve a restructuring of its huge debts, but some of its proposals won’t be acceptable to other eurozone countries. So there’s uncertainty as Greece prepares for a referendum Sunday. Some EU officials have suggested that if the outlines of a deal can be done in the next days, the Greeks could cancel the referendum
• Greece’s left-wing Syriza govt, elected on an anti-austerity platform, has been in deadlock with its creditors for months over the terms of a third bailout. German Chancellor Angela Merkel earlier said she’s ruled out further negotiations until after Sunday’s referendum, which will ask Greeks if they want the deal offered by their creditors – Greeks are leaning no
Obama: Europe & Greece – Make a Deal (NYT, me)
• President Obama said Tuesday that he was trying to prod European leaders to salvage a deal to keep Greece in the eurozone.”I’ve spoken to my European counterparts, encouraging them to find a resolution,” he said just hours before Greece missed a debt payment to the IMF of 1.6 billion euros or $1.72 billion
• The comments reflected escalating efforts by his admin – on the sidelines of the Greek debt crisis but increasingly anxious about its ramifications – to prevail on European leaders to relax some of their demands on Greece in the interest of finding a solution (and despite WH spox Josh Earnest saying Monday the crisis “doesn’t pose a major risk” to the U.S. banking system)
• Treasury Sec Jack Lew spoke by phone Tuesday with the finance ministers of three important eurozone countries – the Netherlands, Italy and France. Lew emphasized the importance of “pragmatic compromise” to keep Greece in the monetary union (not sure they’re in the mood)
• Financial markets remained relatively calm as officials on both sides of the Atlantic emphasized that they were still seeking a deal. The crisis in Greece is “something that we take seriously, but it’s not something that I think should prompt overreactions,” Obama said at a joint presser with President Dilma Rousseff of Brazil
• American concerns go beyond the economy and the global markets. Greece is a member of NATO, and its economic estrangement from other members of the group, which operates by consensus, has the potential to complicate American foreign policy at a time of rising tensions with Russia and turmoil in the Middle East – (especially if it turns toward Russia for help)
• The Export-Import Bank’s charter expired at midnight Tuesday. President Obama held a conference call with members of the business community Tuesday to highlight his solidarity with bank supporters, while Democrats in Congress ripped Republicans for not renewing the bank (Hill, TRNS)
U.S., Cuba to Announce Embassy Openings (AP, CNN, me)
• The U.S. and Cuba today plan to officially seal the renewal of diplomatic ties begun last year, announcing the reopening of embassies in Washington and Havana for the first time in more than a half-century, a senior admin official said. President Obama and SecState Kerry are expected to speak this morning about the embassy openings (#Obamassecondweek)
• For Obama, ending the U.S. freeze with Cuba is central to his foreign policy legacy as he nears the end of his presidency. Obama has long touted the value of direct engagement with global foes and has argued that the U.S. embargo on the communist island just 90 miles south of Florida was ineffective. Obama met President Raul Castro in April at a regional summit
• Significant issues remain on the table. Among them: talks on human rights; demands for compensation for confiscated American properties in Havana and damages to Cuba from the embargo; and possible cooperation on law enforcement, including the touchy subject of U.S. fugitives sheltering in Havana (major issue – and with GOP 2016ers)
• Obama also wants Congress to lift the economic embargo on Cuba, though he faces resistance from Republicans and some Democrats. Rep Ileana Ros-Lehtinen (R-Fl) said in a statement that opening an embassy in Cuba “will do nothing to help the Cuban people and is just another trivial attempt for President Obama to go legacy shopping.”
• The superintendent at the prison where two killers broke out has been placed on leave along with his security chief and 10 other staff members amid a widening internal probe into how the inmates pulled off their escape. David Sweat has told investigators that he made a dry run escape the night before the real thing (AP, me)
• The deadline for an agreement in the Iran nuclear talks was officially pushed back by a week Tuesday as negotiators extended a temporary accord that limits Iran’s nuclear program until 7 July. That would give President Obama time to submit a deal to Congress for review by 9 July. Congress would have 30 days to review, during which time Obama couldn’t ease sanctions
• In a WH presser with visiting Brazilian President Dilma Rousseff, Obama said: “I will walk away from the negotiations if in fact it’s a bad deal. … Given past behavior on the part of Iran, that simply can’t be a declaration by Iran and a few inspectors wandering around every once in a while.”
• Obama also said the U.S. would maintain pressure on Iran over Americans being held in Iranian prisons to ensure they receive basic legal protections. (not freedom?) The talks have bogged down over several key points, including UN inspections of nonnuclear and military sites, the timing of sanctions relief and the scope of Tehran’s research in various phases of a deal
• Iranian FM Javad Zarif rejoined the talks after a one-day visit to Tehran, returning with top officials. “I already had a mandate to negotiate and I am here to get a final deal,” he said after meeting with SecState John Kerry privately. Ayatollah Khameini tweeted: “I recognize our negotiators as trustworthy, committed, brave and faithful.” (no pressure lol)
• The International Atomic Energy Agency will release a report today saying Iran has met its commitment to reduce its stockpile of low-enriched uranium to agreed levels. Concerns arose a month ago that Iran might not meet the target level
• “I feel pretty excited about it,” President Obama said Tuesday at a presser of his remaining time in office. “I might see if we can make next week even better.” But he said, “I will tell you,
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The Talk Radio News Service is the only information, news booking and host service dedicated to serving the talk radio community. TRNS maintains a Washington office that includes White House, Capitol Hill and Pentagon staffed bureaus, and a New York office with a United Nations staffed bureau. Talk Radio News Service has permanent access to every breaking newsevent in the Washington, D.C. area and beyond.
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