You might think that, in between campaigning for the “no” vote that at least temporarily saved his political career, Greek Prime Minister Alexis Tsipras might have considered what winning Sunday’s referendum might mean. That he and his team, including new Finance Minister Euclid Tsakalotos and old Finance Minister Guy-In-Motorcycle-Jacket-And-Jeans, might have jotted a few ideas down on a napkin or the back of an envelope. You know, so that he could answer the question Angela Merkel was definitely going to ask: “So what is it that you want?”
Eurozone leaders expressed mounting frustration with Greek Prime Minister Alexis Tsipras on Tuesday, warning that without a credible new proposal on reforms his country might have to abandon the euro….
European decision-makers had expected to discuss a new financing proposal at their evening summit, but the Greeks came empty-handed to a meeting of finance ministers earlier in the afternoon.
German Chancellor Angela Merkel noted that given the lack of concrete proposals, the summit wouldn’t produce a final result. But she also pointed out that the deadline was coming fast. “I say that this isn’t a matter of weeks, but of days,” Ms. Merkel said.
Greek Prime Minister Alexis Tsipras probably has 48 hours to resolve a standoff with creditors before civil unrest breaks out and ATMs run out of cash, hedge fund Balyasny Asset Management said….
“I don’t see a good resolution any time soon,” Colin Lancaster, senior managing director with Balyasny, a $9 billion fund based in Chicago, said in an e-mailed response to questions. “The big question is whether the EU adopts a strategy of waiting them out. The hope would be that the unrest leads to a unity government or change in government.”