Greece’s secret weapon: Grexit would hurt Merkel most

German chancellor Angela Merkel may still be the most formidable politician in Europe, but this week she lost a bit of her reputation as the scourge of Mediterranean debtor nations. Greece’s firebrand leftist premier, Alexis Tsipras, actually gets on well with Merkel, however much his countrymen enjoy burning her in effigy and adorning her portraits with Hitler moustaches. In a recent profile of their relationship in Der Spiegel, Tsipras gushed, ‘She has this East German way of telling you honestly and straightforwardly what she thinks.’ His top adviser Nikos Pappas also admires Merkel, calling her one of the few leaders in the EU who would rather look at questions politically than economically. She grew up among communists, after all.

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  • Hard Little Machine

    Greece isn’t leaving the Euro. They have more leverage threatening to leave then they have if they leave. This pas de deux is about how to shovel more money at Greece and making it look like a victory for Germany.

    • David Murrell

      Yes but the latest events (mentioned this morning (Saturday morning June 25) suggest that Greece is leaving the EU and going bankrupt.

      • Hard Little Machine

        That’s never going to happen. A Greece alone is an unsustainable country. It would cease to exist in a few years and they know it. They may as well put the entire country up for sale.

  • David Murrell

    Here is another scenario I picked up from one of the business talk shows the last two days:: Greece is definitely leaving the EU and the Euro, but could join the Russian economic alliance. There Russia could pay Greece’s bills, in return for Greece allowing Russia to build and operate a large naval base.

    And with quislings Obama and Kerry working hard to abet America’s enemies wherever possible, Obama would like this deal with Russia.

    • Hmmm I am not sure how much Russia would be willing to pay. Greece has an entitled political class with fat pensions and pay that is wholly unsustainable.