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Cinco Días - Spain | Thursday, June 4, 2015

Things get serious when ECB intervenes

ECB Chief Mario Draghi intervened in the debt dispute between the EU and Greece on Monday and called for a "strong agreement". Now that the ECB has stepped in Greece's strategising will come to an end, the centre-left daily Cinco Días predicts: "Up to now the Greek authorities have been playing at prolonging the negotiations indefinitely. They have changed mood constantly and failed to offer their partners and creditors any credible and acceptable alternative to reforms. But if the ECB gets serious, turns off the credit tap and blocks the budget financing, Athens will have no choice but to abdicate."

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