Greece Given Hobson’s Choice, Iran on Cusp of Deal: Sunday Wrap

Here are highlights of the top breaking news stories from around the world on Sunday:

European Union leaders gave Greek Prime Minister Alexis Tsipras 72 hours to disown the principles that got him elected or quit the euro zone. As German Chancellor Angela Merkel herself put it, the negotiation with Greece on a possible third bailout has gone from being about policy issues to one of trust. Among other things, Euro leaders are demanding that Tsipras fire workers hired in defiance of commitments in Greece’s previous two bailout packages.

A nuclear deal on Iran looked close enough that even Iran’s president was smiling. No one was saying anything other than that they’ll be done Monday. Negotiators reached an agreement on how to propose lifting the United Nations arms embargo on Iran, one of the stickiest remaining issues.

The beyond-Shawshank-Redemption repeat escape of Mexico’s most dangerous drug lord infuriated U.S. officials who wanted him extradited, and humiliated President Enrique Pena Nieto, who had said another prison break would be inexcusable. The man known as “El Chapo” fled to freedom though a mile-long tunnel that had lighting, ventilation and even a motorcycle on rails.

The Federal Reserve will be “dying” to raise interest rates as soon as September with the U.S. economy poised to perform much better in the second half of the year, said Byron Wien, vice chairman of the advisory services unit at Blackstone Group LP.

For $1.4 billion, one can buy a lot of plastic forks and cups, as the Jarden Corp. is said to be set to do.

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