Greece: It Will Leave the Eurozone, Even Though it Doesn’t Want To

By John Ward (The Slog)

The Slog

Greece can’t live on thin air during August

The media spotlight at the moment appears to be on Spain, when it isn’t on the Olympics. But what it should be on is Greece.

In the last two days, ominous speeches have emanated from the Bundestag and Bankfurt. Greece, they say, is already backsliding. This whole bailout thing, they insist, is an expensive joke.

Brussels spokespersons point out that the next tranche of bailout cash isn’t due until September.

The IMF has publicly suggested it will not lend Greece any more money. (Slog sources say that internally and secretly, the IMF has decided not to lend the eurozone any more money).

“Significant [Greek] delays in programme implementation have occurred due to the double parliamentary elections in the spring,” said a faceless Sprout this morning, adding “the decision on the next disbursement will be taken in the near future, although it is unlikely to happen before September”.

Hark: no decision until September, and studious avoidance of any sign that the decision will be positive in Greece’s favour.

Read the rest of the article here: The Slog

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