“Prime Minister Alexis Tsipras resigned on Thursday, hoping to strengthen his hold on power in snap elections after seven months in office in which he fought Greece’s creditors for a better bailout deal but had to cave in.”
Turns out promising free ice cream, only to deliver expensive rotted cabbage, wasn’t popular with Greek voters.
Nor were his actions popular with members of his own party, 25 of whom have broken off to form the new National Unity Party, who will evidently return to the “demand free ice cream and insist others pay for it” strategy Tsipras abandoned in the face of the sinister force know as reality.
On the plus side, Greece just used it’s new bailout fund to make a debt payment to the European Central Bank for the last batch of money it borrowed to prop up its unsustainable welfare state.
We’re in that happy honeymoon period after Greece gets more money and before Eurocrats are shocked, shocked that Greece’s economy is still a festering pile of fail that all those and promised economic reforms haven’t actually been implemented.
Give it another six to nine months…
Tags: Alexis Tsipras, Budget, European Central Bank, European Debt Crisis, Greece, Welfare State
I’ve visited Greece last 2007 and it was such a beautiful country. Now I’m heartbroken to see such a lovely country fall down on hard times. I pray that Greece will recover in time.