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Grexodus

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Grexodus: Diktat, Capitulation and More Trouble to Come

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The outline of a deal has been reached after a marathon 22-hour session between Greece and the European Union. To call it a negotiation would be deceptive; it was Alexis Tsipras subjected to a browbeating until he acceded to even more stringent conditions than those that were previously offered to him in June. Such was […]

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Grexodus: Last Act

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Polls have opened all over Greece and will close at 1900 Eastern European Time (EST+7). Prime Minister Alexis Tsipras cast his ballot early in the morning undoubtedly checking “óxi” – no – in rejection of the creditors’ demands. For the leader of Syriza and for his Finance Minister, Yanis Varoufakis, the question is clear: accept […]

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Grexodus: The Death Spiral

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Greece seems to have finally entered the death spiral. After a final session on Saturday – they cannot be called negotiations – Alexis Tsipras’ government refused to accept the Trouka’s diktat. With that, Mr. Tsipras has done two things: 1. Declared a plebiscite to have the Greek people decide whether they will accept the terms […]

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Grexodus: Worse By The Hour

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It looks like endgame has arrived for the EU-Greek negotiations. Alex Tsipras and Co. had avoided defaulting last week on a large IMF payment they didn’t have the money to make by utilizing a perfectly legal, but rarely used protocol that allows debtors to roll-up multiple payments in the same month into one large payment […]

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Grexodus: Die Gans ist gekocht (Greece’s Goose is Cooked)

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Soap, rinse, repeat. That has been the monotonous cycle of the Greek negotiations with “the Creditors” (a.k.a. the Institutions, a.k.a. the Troika…) for weeks. In fact, since the Greek elections that brought Syriza to power. How does it work? 0900 Talks between Greece and Creditors have resumed 1100 Anonymous Greek source states that there has […]

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John Adams

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