Greek crisis: surrender fiscal sovereignty in return for bailout, Merkel tells Tsipras

German and French leaders press Greek leader for guarantees over austerity measures in what an EU official describes as ‘extensive mental waterboarding’

European leaders have confronted the Greek government with a draconian package of austerity measures entailing a surrender of fiscal sovereignty as the price of avoiding financial collapse and being ejected from the single currency bloc.

A weekend of high tension that threatened to break Europe in two climaxed on Sunday night at a summit of eurozone leaders in Brussels where the German chancellor, Angela Merkel, and President François Hollande of France presented Greece’s radical prime minister, Alexis Tsipras, with an ultimatum.

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World news | The Guardian

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US Army confirms 40,000 soldiers to be cut

The US Army said Thursday it aims to cut 40,000 soldiers from its ranks over the next two years in order to achieve target workforce reductions, confirming numbers leaked this week.
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Isis Afghanistan affiliate’s leaders killed in US airstrikes, Afghan officials say

• ‘We have destroyed the base of Isis,’ says Afghan security spokesman
• US says 34 strikes hit Iraq and Syria on Friday

Afghanistan said on Saturday that recent US airstrikes it assisted had destroyed the top leadership of a fledging Islamic State affiliate there, potentially striking a major blow to an insurgent group already targeted by local Taliban fighters.

While US officials declined to confirm it, Afghan authorities said an American airstrike on Friday killed Isis affiliate leader Hafiz Sayeed and more than 30 other militants.

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World news | The Guardian

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Economic slowdown not affecting investment: BKPM Chief

Despite the economic slowdown, the inflow of foreign investment in Indonesia remains unaffected, according to Chief of the Investment Coordinating Board (BKPM) Franky Sibarani.
“I believe that the economic slowdown will not …
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Hotel workers in Tunisia ‘devastated’ as Foreign Office tells Britons to fly home

British tourists return on emergency flights, with several calling government’s response an ‘overreaction’ and saying local economy will suffer

Related: Tourists fly out of Tunisia amid row over Foreign Office advice for Britons to leave

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World news | The Guardian

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Anti-graft body names three administrative court judges as suspects

- The Corruption Eradication Commission (KPK) has named three judges of the State Administrative Court (PTUN) in Medan, North Sumatra, as suspects in an alleged case of bribery.
The three judges and a clerk are accused of …
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Wall St. ends sharply higher in broad rally

NEW YORK (Reuters) – U.S. stocks closed broadly higher on Friday, with major indexes ending up more than 1 percent on hopes Greece would be able to secure fresh funding at an upcoming meeting, which would allow it to avert bankruptcy and remain in the euro zone.

Reuters: Business News

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