By calling for a referendum on 5 July on on the series of austerity measures demanded by Greece’s creditors in exchange for a bail-out plan, Greek prime minister spread distrust among Eurozone partners and put his country on the brink of economic disaster.
Prime Minister Alexis Tsipras played his last chips and the country is already experiencing the results. If he has come to terms with the idea of Greece returning to the drachma then you can see some logic in his tactics – not for the country, not for its people but for him personally. If not, then he will have to pull a U-turn before it’s too late.
Tsipras will need to address the Greek people and admit that he played his last chips as he did because that’s what he thought they wanted and then explain the losses and gains of his strategy. He will have to muster up the courage to accept whatever proposal is presented to him as a solution of last resort. And this will take a lot of courage. Continue reading