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Monday, February 9, 2015

Greece is Playing to Lose by Anatole Kaletsky - Project Syndicate

Greece is Playing to Lose by Anatole Kaletsky - Project Syndicate
Greece’s idealistic new leaders seem to believe that they can overpower bureaucratic opposition without the usual compromises and obfuscations, simply by brandishing their democratic mandate. But the primacy of bureaucracy over democracy is a core principle that EU institutions will never compromise.
The upshot is that Greece is back where it started in the poker contest with Germany and Europe.
The new government has shown its best cards too early and has no credibility left if it wants to try bluffing.

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