July 13, 2015

PSSST, hISTORY eNDED:

Greece Blinks (Mark Gilbert, 7/13/15, Bloomberg View)

After months of deadlines that turned out not to matter and final demands that weren't met, the threat of a one-way ticket from the euro seems to have finally persuaded Greece to capitulate to its creditors. For all of France's diplomatic scrambling last week to help Greece craft a settlement, it also turned out that there's really only one voice that matters in Europe -- and it speaks from Berlin. Once Germany raised the possibility that Greece could be unceremoniously ejected from the common currency project, the situation quickly became binary for Greek Prime Minister Alexis Tsipras. Now, it looks as if he'll have to sell his electorate an even more demanding deal than the nation's voters recently rejected.

Posted by at July 13, 2015 5:12 PM
  

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