Here's a sample from this morning's Daily Shot:
Want to Understand Greece? Take This and Extrapolate it Across a Whole EconomyLove that last paragraph :)
Greece is in quite a pickle. It has defaulted on its debt payments to the IMF, it’s cut off (for the time being) from a European bailout, and its prime minister ... is a piece of work. Alexis Tsipras seems to be in over his head.
First, he left bailout negotiations, insisting on a public referendum on the conditions Greece’s creditors were demanding. Then he let his nation go into default on its debt payments. Then, he suddenly realized how bad an idea that was, so he wrote a letter late Tuesday to other European leaders and the IMF, accepting the terms of their bailout. Then he started telling his voters to reject the measure.
On Wednesday, finance ministers from Eurozone countries held a conference call to collectively facepalm ... and then to talk about Tsipras. They decided that, rather than jump in and help, they’re going to wait for the outcome of Sunday’s referendum. You know, rather than rely on the whims of the prime minister/hormonal teenager. Many of Greece’s creditors also have serious doubts that, even if bailed out, Tsipras’s left-wing government would make the necessary reforms.
So now it’s in the lap of the gods and the hands of Greek voters. (You know, the folks who elected Tsipras to begin with). Well, at least until Tsipras changes his mind six more times tomorrow.
Friends, we should applaud the man. It takes an extra level of ineptness of make even Barack Obama look like a decisive leader.
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