This item appeared on Yves Smith’s blog, Naked Capitalism: Greece Talks With Eurogroup Hit “Complete Breakdown”. According to Smith, things look very dark for SYRIZA to avoid exiting the euro:
“It is hard to see how Greece squeaks through and makes its two early May debt payments to the IMF. A default may be imminent. … Greece has engaged in a game of brinksmanship for months, but it looks as if the wheels are about to come off. It’s too easy to second-guess outcomes, but cooler heads had suggested that if a Grexit looked to be inevitable, the Eurozone could take measures to ameliorate the pain. The relations between the two sides are so sour that this sort of conscience-assuaging sop seems inconceivable, unless Merkel insists on it as a statesman-like gesture.
Very pessimistic of SYRIZA’s and Greece’s future, Smith adds these sympathetic words:
“Greece was almost certain to continue to face harsh times, but the likely outcome looks to be particularly difficult. I wish the long-suffering Greek people the best of luck. They need it.”
Isn’t it great when, on April 25, a respected blog informs us of something we already knew on January 25.