Falling in like good boys.
Easy to see now why Varoufakos allowed himself to be “pushed” so willingly on Monday.
Ya, wasn’t happy with the plan coming down the track. And he don’t play
So long suckers…
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Where are the lads who said Ireland should have followed Greece’s approach now?
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that type of bullshit from Tsiparas sums up leftist politics and how naive the clowns who vote for them are
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The capitulate to all their demands approach? I think we lead on that one in fairness.
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Well clamped.
Greece have followed Ireland’s approach.
Have a referendum, then do the opposite of what the people want
Next they will go back and ask them again and again until they get the right answer.
No doubt they’ll return with ‘assurances’ Michael Collins style and sell the deal on those.
Most likely what’s happened here is that the Greek economy has collapsed completely over the past few months while this clusterfuck has been going on, not surprising when capital controls are in place. The new Greek finance minister would have explained this to Tsipras, hence the outcome of we better play ball or at least appear to play ball. They haven’t a notion of paying back their existing debt, let alone another 70 billion. The Germans know this and will likely demand a more draconian plan, and on it will go. The Germans want them out, but can’t say that publically, they want the Greeks to ask for a Grexit themselves, which will never happen as their economy is now so fucked exiting the Euro on top of that would sent them into third world status rapidly.
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That’s about it. They will sign up and “committ” to a deal that they haven’t a notion of paying and everyone knows it and we will all be back in the same place this time next year.
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Time to organise an orderly Grexit
Schauble wants Greece out of the Eurozone for 5 years, and has the backing of Finland and four other countries apparently. He’s willing to consider sending them some food however should things get really desperate. Should be an interesting weekend.
The Fins are refusing to back any deal which gives more money to Greece. There own Government nearly collapsed on the issue and the finance minister has been mandated to vote against the deal.
The troika are now saying it will take 73M Euro to bail out Greece, significantly more than the Greeks themselves are asking for and further conformation that Tsipras and Syriza are clueless about what’s happening in their own country. The call for a referendum that prompted the capital controls is now looking like a real boneheaded move, due to the damage inflicted over the past two weeks. Having said that the claim is that 25 billion will be required to recapitalize the Greek banks, sounds a bit extreme for a country of 11M people, but like everything else we don’t know the whole story. Hard to blame Finland and other smaller countries not being wiling to piss more money down the drain.
How is 73m significantly more than 65bn???
I read there that the Fins may not actually be able to block the bailout as an ESM bailout only needs 85% support and the fins only hold 1.7% of the voting right.