Predictably, the Greeks have turned reacted negatively to the EU plan to force a budget commissioner into their democratic procedures. The IMF and the Germans will continue to insist upon this course of action, but it is doubtful that the other members of the EU will be as forceful. So the question now becomes whether the Greeks will leave the eurozone or whether the IMF and Germany will deny the Greeks the money necessary to pay off their debts due in March in order to force them to accept the budget commissioner. Much hangs in the balance in this war of wills. The EU summit tomorrow will tell us a lot about what direction the war will go.
The International Atomic Energy Agency has an inspection team in Iran. It does not have the ability to inspect all of Iran’s facilities, but it will try to corroborate the intelligence from other states with whatever information it is able to glean from its visit. Meanwhile, Iran has indicated that it will stop oil shipments to “some” European states in retaliation for the EU oil embargo.
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