Today the eurogroup finance ministers rejected Syriza’s request for a bridge loan to work things out.
Germany upped the ante, calling Greece’s Letter Requesting Extra Time a “Trojan Horse” and instead demanded a three sentence letter accepting all Trioika demands.
I have a simple question: What’s left to negotiate other than how big a capital surplus Greece must have and for how long.
And those, Germany wants a Greek capital account surplus of 3.5% this year, and 4.5% next year and the following years.
Athens wants 1.5%. Any room for serious negotiation here?
I rather doubt it.
Head on Collision
Media still clings to hope that a collision can be avoided. For example, the Financial Times headline reads German and Greek Ministers Set to Collide.
