And What Have the Greeks Been up to?

Greece drops demand to ease bailout terms –

During the election, the Greek coalition partners all promised to seek better terms for their bailout. Now they have backed down. What makes this unusual is that Spain (and Portugal, Ireland & Italy) just received much better deals without the onus of an actual bailout. The summit deal from last week should have strengthened the Greeks bargaining position.

I think that either the Euros are trying to force Greece out of the Eurozone by keeping the pressure of austerity on, or a renegotiation is just not politically feasible right now and the IMF told them to quiet down for a few months until something else could be arranged.




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