Grexit Cancelled

by bierstadt54

Short Post:

I believe the past week of bank closure and warnings from Eurozone leaders have done the work of convincing the Greek people to vote yes and accept the bailout conditions on the table. Prime Minister Tsipras and his government also seem to be chastened if the latest proposal from them accepting all but a few conditions is any indicator. They clearly see the way the winds are blowing and if the populist alliance loses power, they are unlikely to get it back. However, Germany and other Eurogroup members have made it clear there will be no negotiations until the vote, which is a useful lesson in not making an enemy of your negotiation partner when you still need their help. If Tsipras keeps his word, the Syriza government will resign after the probable yes vote on Sunday, and a new Greek government will accept the bailout conditions. Overall, good drama, bad governing.