Uh oh, here we go again as the Deathburger has now mutated into a Deathgyro with the deadline extended until Sunday night for a Greek deal and rumors all over the internet that the deal the Greek Prime Minister will submit tomorrow is a non-starter even though no one has seen it.
Thus the media has stories warning like this one from Ambrose Evan-Pritchard’s excellent piece in the UK Telegraph where he reports the following:
‘They were trying to strangle us into submission, and this is how we would retaliate,’ said one cabinet minister. Mr Tsipras rejected the plan. It was too dangerous. But a week later, that is exactly what he may have to do, unless he prefers to accept a forced return to the drachma.
Syriza has been in utter disarray for 36 hours. On Tuesday, the Greek side turned up for a make-or-break summit in Brussels with no plans at all, even though Germany and its allies warned them at the outset that this is their last chance to avert ejection.
The new finance minister, Euclid Tsakalotos, vaguely offered to come up with something by Wednesday, almost certainly a rejigged version of plans that the creditors have already rejected.
This post was published at John Galt Fla on July 7, 2015.
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