Is Greece Blinking First?

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


Hum de hum. An unnamed source says Greece is changing its tune about demanding a new deal to replace its existing rescue package:

Greece will seek an extension to its rescue deal from the rest of the eurozone Wednesday, an official with knowledge of the situation said….Greek Finance Minister Yanis Varoufakis said he expects an agreement between Greece and the eurozone over an extension. “It is my considered opinion that there is going to be a text that everyone is going to be happy with,” Mr. Varoufakis said in a brief telephone interview, despite talks in recent days with his eurozone counterparts that he described as “boisterous.”

But there’s also this:

The comments came shortly after Greek Prime Minister Alexis Tsipras gave a defiant speech in Parliament in Athens, saying his government would move to immediately dismantle overhauls mandated by its bailout program….“We are not taking even one step back from our basic promises to the Greek people, not one step back from our pre-election promises,” Mr. Tsipras said.

So it’s more good-cop-bad-cop. But if this report is true, it looks like it’s Greece that’s blinking first. Why? Probably because—to Greece’s surprise—the Germans seem all too sincere about letting Greece default and exit the euro if they refuse to continue down the austerity path they’re currently on. If this is really the state of play, then Greece will get a few minor concessions that Tsipras can spin as a victory for domestic consumption, but not much more.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

payment methods

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate