Defiant Tsipras faces toughest decision yet of stormy premiership – FT.com

This is an excellent article from the FT, suggesting that Greek Prime Minister Tsipras will agree to creditors’ terms in a last minute deal. This will split his government and probably trigger an election, with Tsipras returning as less left-wing leader.

via Defiant Tsipras faces toughest decision yet of stormy premiership – FT.com.

The alternative and unlikely scenario is Angela Merkel offering major concessions, which will have a political costs for her.

So, it’s either a grubby last-minute deal that will break up the Greek government, or a default which will trigger global consequences in financial markets.

Thoughts?

Greece running out of time to avoid default, leaders concede | Business | The Guardian

According to this alarming article from the Guardian, Europe’s leaders are now openly planning for a Greek default within a week. This is a must read article. Check it out!

via Greece running out of time to avoid default, leaders concede | Business | The Guardian.

What is significant is that the IMF walked away on Thursday, citing the distance between both sides. But in reality, this was a coded criticism of Germany by the IMF. I would expect liberal newspapers, like the Guardian, to follow up with a pro-Greece article, like the NYT yesterday.

Over the coming days expect the media to become increasingly alarmist.

Thoughts?