Greece finally gets a Grexit party

From Bloomberg:

A group of Greek lawmakers opposed to the country’s bailout program abandoned the governing party, Syriza, as Prime Minister Alexis Tsipras moved to force an early election to shore up his position.

The lawmakers, whose names were read out on Friday by a deputy parliament speaker on television from Athens, will be called “Popular Unity” and led by former Energy Minister Panagiotis Lafazanis. Twenty-five lawmakers form the new bloc, while local media reported another four parliamentarians quit Syriza without joining the breakaway.

“We won’t accept being in the euro area and having bailout programs imposed on us,” Lafazanis told reporters in Athens on Friday. If resisting the bailout means the nation exiting the euro area “this is in no way a catastrophe. It’s a path that can create hope and prospects for our country.”


Houses and Holes
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  1. Are they for real now or is it more brinkmanship? Will they actually run their campaign under “EU, give us the dough strings-free or we walk”? Methinks the world is now fixated with China, Brazil, Oil, Global Warming, etc and will not really care what happens, either way.

    • Probably just

      “EU please delete some of those accounting entries that you created when you bought a bunch of Greek bonds off the banks and when you gave us the money to pay the accounting entries recording interest on the money you created”


      We walk.

      Considering how attached the ECB is to their accounting entries the later would seem the best option.

      Not that the ECB will do anything about the accounting entries other than put them in cupboard and wave them around for the rest of time wailing about those nasty Greeks who “still owe us money”.

      • Pf, the constant reference to “accounting entries” as if to demosntrate how easy it would be “fix” the problem is a slightly biased perspective on the economy. The whole economy is based on equally ficticious entries. Once you start pulling at the strings the whole tapestry becomes undone. Money is just a promise so the only solution to the Greek situation is a mutual promise: “I promise to change my ways and you promise to extend repayments into the future (so far into the future it becomes a haircut)”. Anything else is a blame merry-go-round.

  2. Josh MoorreesMEMBER

    It all hinges on them being able to generate some good publicity in the next few weeks before the election. Could be an unfortunate timing just as everything is coming apart globally for the grexit to pile on top of that.