Why is Alexis Tsipras signing up to worse austerity measures for Greece?

As said before, Greece isn’t going anywhere — and apparently Greece would rather capitulate and be placed under German and Troika command than bow out and face imminent total collapse within days or weeks. It would lead to a violent overthrow of the Tsipras government whereas Alexis would likely still be soon replaced for defying the Greek “No” referendum vote, or, the will of the people. Capitulation will still lead to a draining of the Greek taxpayer bank accounts as per bailout requirements.

 

Why have the Greeks signed up to harsher austerity?

Prime Minister Alexis Tsipras is banking on securing an agreement with his creditors to keep the country in the euro. By agreeing to carry out many of the tough reforms and spending cuts he has so far resisted, he hopes to get a big concession on relieving part of the country’s debt.

Is this worse than the deal voters rejected in the referendum?

Yes and no. On the one hand the VAT hikes and pensions reforms are exactly what creditors have wanted over the last month.

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