Fulfilling bailout terms will be an impossible task for Greece

Greece’s bailout deal is in line with previous bailouts, only worse. It will lead to further deterioration of the Greek economy and debt, writes Pat Cradock

On July 5, the beleaguered Greek government held a referendum on the final offer made by the creditors at the end of June.

The announcement of the referendum was greeted with rage in Brussels. It seems that the EU is a top-down organisation allergic to democracy.