Grexit Daily News – 11 June 2015

grexit daily news

Dear Reader,

I am introducing a new section entitled ‘Grexit Daily News’ where I will post the most important event of the last day in this slow motion car-crash that is the Greek Crisis.

11 June 2015

The shocking event of yesterday was the departure of the IMF from the technical talks. This would be funny if it were not tragic, because it constitutes another instance of the Troika calling Syriza’s bluff.

As with the talk of referendum that ended unceremoniously when none other than Schaeuble declared it a brilliant idea (see here), the roaring of Syriza of the last few days that Greece should withdraw from negotiations, pull any compromise offers and reinstate the ‘Thessaloniki Programme’ as its proposal, ended abruptly when last night the IMF packed its bags and went home.

This is a little like a driver who goes into a rage when someone cuts them off, steps out of the car yelling “come out if you are a man”, for him to panic when the other guy does come out.

What another sad instance when Tsipras gets trapped in his own blackmail. I continue to despair.


A pedestrian carries his shopping past a graffiti sign reading "Cut The Debt, IMF Go Home" on corrugated metal fencing outside the University of Athens in Athens, Greece, on Monday, March 30, 2015. "The Greek government's strategy of isolating Germany and getting a majority of other euro-zone members to support another package against vague promises and no coherent reform plan has failed spectacularly," Erik Nielsen, global chief economist at UniCredit Bank AG, said in a note on Sunday. Photographer: Kostas Tsironis/Bloomberg


One thought on “Grexit Daily News – 11 June 2015

  1. Randall says:

    I hope you are not in such despair that you stop offering your point of view on the crisis on a regular basis. I am very interested in your critique of both Syriza and the EMU and yet your apparent unwillingness to see a “rupture” (the last of which I am increasingly drawn to, as it appears to me the intentions of the EMU too much resemble a repeat of what happened in 2010, when the US pressured the EMU to preserve the euro but gave the EMU a green light to humiliate Greece in the process as a “lesson”. There also seems to be an intention on the part of Europe to drive Syriza from power, and everything I have from those informed about Greece say that there is nothing cohesive to replace Syriza.

    Anyway, even stating what I just did, I have a big sense I don’t have enough information to treat these ideas as conclusions.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s