All day I’ve been reading feel good pieces about Greece. At Dad’s Army first Alan Kohler and then old man Gotti, at Fairfax it’s Phil Baker, The Pascometer and even Chris Joye is into it this afternoon:
If Greece votes to accept the troika’s deal there will likely be a prompt settlement given the collateral damage the negotiations have inflicted on the Greek economy and national morale more generally. Although a clear “yes” vote gives Tsipras a mandate to do a deal, it will also be a striking repudiation of his policy positions and negotiation approach. A new, more Euro-friendly caretaker government, which would be welcomed by continental leaders, may therefore be formed that oversees the country until fresh elections are held later in the year.
Consummating the bailout will prove that the Eurozone can resolve crises and implement the de facto fiscal policy that is missing from the monetary union while forcing members to adopt reforms that harmonise economic differences between countries. This is very positive for its longevity.
