Tough decisions in Greece. Huge pressures.
I was watching Bloomberg last night just before midnight and they were reporting that the hashtag #thisisacoup was the highest trending hashtag on Twitter for a while yesterday. So what does that tell you?
The Germans (and others) wanted to crush Greece. And it looks like Deutschland may have succeeded.
The terms are significantly tougher than those Tsipras labelled “blackmail” when he persuaded Greek voters to reject them in a referendum a week ago. In addition to requirements on pensions and sales taxes, measures that Tsipras accepted last week, the leaders demanded that creditor representatives return to Athens with full access to ministers and a veto over relevant legislation, intrusions that he has long rejected.
“We had to succeed,” said French President Francois Hollande. “If Greece had left the euro zone what would the world have said?”
How about “good for you.” And if I was Hollande, the president of a country which isn’t exactly fiscally sound, I wouldn’t be gloating. France likes to think that it’s not Germany’s lapdog.