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Greece Capitulates: Tsipras Crosses ‘Red Line’ and Will Accept Bailout Extension
Tuesday, June 23, 2015 7:26
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We’ve long said that negotiations between Greece and its creditors are more a matter of politics than they are a matter of economics or finance.
From the troika’s perspective, breaking Greece and forcing PM Alexis Tsipras to concede to pension cuts and a VAT hike is paramount, and not necessarily because anyone believes these measures will put the perpetually indebted periphery country on a sustainable fiscal path, but because of the message such concessions would send to Syriza sympathizers in Spain and Portugal. In short, the troika cannot set a precedent of allowing debtor nations to obtain austerity concessions by threatening to expose the euro as dissoluble …. http://www.zerohedge.com
Source: http://luismmx.blogspot.com/2015/06/greece-capitulates-tsipras-crosses-red.html
