Eurozone Leaders Agree To Greek Bailout Deal: Twitter Reacts with #ThisIsACoup

By Alexandra Svokos (alexandra.svokos@mstarsnews.com) | Jul 13, 2015 11:55 AM EDT

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Greece reached an agreement with the Eurozone on terms for a bailout early Monday morning, following nearly six months of negotiations over the country's debt. The agreement was made after 17 hours of tense, overnight negotiations at the Euro Summit. During the event on Sunday, #ThisIsACoup began trending on Twitter as people worldwide called the demands too harsh on Greece.

Greek Prime Minister Alexis Tsipras spent months trying to lessen Eurogroup demands, hoping to lower the amount the country owed and get rid of some austerity measures – like decreased government spending and increased taxes. Ultimately, however, Tsipras agreed to some of these same measures in the hopes of getting a bailout. The agreement kept Greece from leaving the Euro (taking a "Grexit") and prevented the country's banking system from collapse.

As negotiations continued on Sunday, public backlash grew against Germany and German Chancellor Angela Merkel, with people saying that their demands for Greece amounted to a trolling coup. #ThisIsACoup trended on Twitter with pronouncements that Germany would effectively be taking control of Greece. Economist Paul Krugman agreed, mentioning the hashtag in a column and saying the demands went "beyond harsh into pure vindictiveness."

Some of the heavily contested demands included lifting a ban on Sunday shopping and putting €50 billion of public assets into a fund abroad. Germany itself does not open shops on Sunday, so they were asking Greece to do something they themselves won't do. Germany suggested moving the assets to the Institution for Growth in Luxembourg, which is controlled by German finance minister Wolfgang Schaeuble.

Negotiations in Greece will continue to see if their government will accept the agreement for a bailout. They have a deadline of Wednesday to approve the terms. The agreement would include transferring assets – but to a fund in Greece, not abroad – increasing taxes and revising pensions.

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