Just as Odysseus was once tied to the mast so as not to succumb to the siren song, so Alexis Tsipras has its election promises bound. The Greek prime minister insists to terminate the auxiliary and savings program for Greece, wants to keep the Europe.
On the emergency meeting of the Euro Group on Wednesday evening is now completely escalated the dispute. The probability of a Euro-exit Athens has become significantly larger
When negotiations began, the euro zone finance ministers were at first shocked, then applied. Greece’s Finance Minister Janis Varoufakis did not even have a written proposal in the bag. Instead, he repeated for 30 minutes only old debts. . An affront to European practices
Greece itself weakened
But it got worse: In the late evening seemed despite heated discussions reached an agreement. In this certainty, German Finance Minister Wolfgang Schäuble got on the plane to Berlin. Once there, he realized that the deal had burst. Prime Minister Tsipras refused Athens under the agreement its approval.
Of course, this may be a negotiating tactic. If the Greek government to collapse at the first meeting with its creditors, which could undermine their credibility with voters. Also yesterday marched in Athens again thousands on the streets against the hated austerity program of the Troika. That leaves the Greek government is not impressed.
However, Greece has weakened his amateurish behavior only themselves. The Greek government has again Euro Gang boss Jeroen Dijsselbloem fool who had formulated the agreement almost achieved. The Euro Group was already at the meeting on Wednesday so tightly than ever before. The experiences of yesterday evening, they should have welded together even more closely.
The time pressure increases
Greece At the same time running the of time. Actually, should extend to the next meeting on Monday, the conditions to be worked out, under which the Greek aid program may be extended by six months. These precious days pass now unused. On Monday Euro group and Athens have to find a compromise under extreme time pressure. Also, will not this strengthen Greece’s negotiating position.
One side will have suffered a loss of face in battle. And it is unlikely that it will be the euro countries. For Germany the price of a yielding towards Greece would be high. The credibility of the euro bailout policy of the Federal Government would at a stroke there. And the alternative for Germany (AFD) would receive the greatest gift choice since its inception.
Similarly, the complex situation in many other euro countries. And sworn to by the Greek Government contagion to other euro-countries could be narrowed down well. The European Central Bank (ECB) is at the ready to buy up European government bonds.
China and Russia are not an option
And so it is probably the Greeks be the untie herself from her mast and must abandon some of their key demands. The Greek government knows what is at stake. A bankruptcy and a euro exit would far back throw the country into its economic development.
And the government knows that by it brought into play bridge financing by China or Russia are no real options. China would require an adhesion contract, and under Russian knout is Athens can not seriously want to go.
A compromise, which provides an extension of the austerity program under relaxed conditions Therefore, despite the scandal still the most likely solution. But since Wednesday evening is also clear: if Greece does not move soon, threatens a catastrophe. What seemed unthinkable, is no longer unlikely.
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