Go Back κυρία Merkel, but not too far


What we learned from Tsipras’ interview on Greek TV (enikos) yesterday is why things have become so stuck with the Eurogroup. Tsipras was adamant that he will not allow Troika inspectors back, meaning that there is no reliable way for the Troika to assess the fiscal situation. He said that he will stick to his red lines, refusing wage and pension cuts and VAT increases. He also failed to specify any counterbalancing fiscal measures, beyond what Varoufakis had proposed to the Eurogroup (fighting evasion, savings and gambling) which were considered vague and unquantifiable.

What he did propose is holding a referendum on presumably euro membership if pushed beyond his limits. What he wants is interim funding to take Greece through the summer apparently with no unpleasant terns attached and then negotiating a new bailout package. This will not please the Europeans and it is exactly why things have become so marred in acrimony. The problem as I keep saying is not Varoufakis, but the government’s negotiating stance in the face of Eurogroup intransigence.

The threat of a referendum brings us back to 2011 and Papandreou. Danger ahead…


One thought on “Go Back κυρία Merkel, but not too far

  1. HowCanYouTalkAboutDignity says:

    What do you think would be result of referendum in the other countries, asking if greece should be forced to leave Euro (if it would be possible)? Think about this!


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