Posted by Ivan Rendall on Saturday, 10 June 2015 in Blogging
At Last! There seems to be just a hint of common sense and imagination being applied to the Greek bailout. Angela Merkel appears to be saying there has to be movement and is big-minded enough to take the first step towards ending the fatuous impasse. I would not like to be paying Herr Schäuble’s bar bill this evening!
Just perhaps, the trench warfare will begin to look as daft to the participants on both sides as it does fto us as spectators. Watch the “do nothing but demand Greek submission” brigade scramble to take the credit. But if crisis is replaced by some kind of compromise it will be Tante Angela who will have done it.
Financial markets seem to agree, rising today because she has decided to deliver a deal. But whether bankers can now help Greece survive is going to be the next big question.
The pantomime horse that is the Greek government will scream “victory” but the deal emerging is one that they are going to have to make work. Are they just going to go on posturing or are they going to react positively to the cold wind that will be blowing along the Athens corridors soon.
It’s going to be a hard Greek summer without much love and much less immediate reward.
If there is respite, then enjoy it while you can Tante Angela!