I would love to get some perspective on this sentiment. Greece cannot hope to pay off the debt owed, and they can't hope for growth while under such austerity. It seems to be a choice between short term and long term pain. I do not understand why a 'yes' vote seems likely at this point.Alexis Tsipras, hinted in a TV interview that a referendum could be held over whether Greece should stay in the euro. This would most likely return a “yes” vote, which could give Mr Tsipras an excuse to push out far-left members of his own party who have been blocking reforms.
I wonder though, there are politicians and bankers involved, and they don't share the same pressures, even if the EU bankers are unified. Concessions to the Greeks might become politically untenable before they are financially. I just can't see this cycle of stern warnings and concessions going on as long as the Greek's payment schedule, and it's not like they are going to be able to start meeting deadlines any time soon. Yeah, I'll add some padding on the next update.By the bye - I'd put a comment box or two of padding between the current post and the previous posts.
Perhaps, but there are national politicians, and local ones: http://www.bloomberg.com/news/articles/2015-04-20/greek-mayors-to-protest-government-decision-to-seize-their-cash Maybe it won't be the German politicians, but Greek ones that will not abide. It might be argued that the ECB's policy (whether overt or not) has been to draw in and then undermining Greek leaders so as to avoid a united front.