I expect a slow return to growing panic.
The inspectors will stay in Greece until the last moment.
I have no idea if they will return a positive or negative report on the negative situation they find there.
If positive Greek exit will take place in six months. If negative it will be in about a month.
My preference is to end the Republican party in November so we can fix the economy.
I doubt that will happen. The politics of rationality are a puzzle.
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http://www.athensnews.gr/portal/11/57322
| Troika staying until measures are finalised | |||
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 "The European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) troika will stay in Greece until a credible package of measures is drafted, in collaboration with the Greek government, IMF delegation chief Poul Thomsen told finance minister Yannis Stournaras. Ministry sources said Thomsen informed the minister on this change of plans during a working dinner on Friday. The same sources said that the atmosphere at the dinner was "exceptionally good" and marked a change in the attitude so far of the representatives of Greece's creditors', with Thomsen cited as telling Stournaras that "we want to help and will stay as long as needed for you to prepare the package". According to the initial itinerary, the troika was to depart Greece at end of July and return at the end of August, to see the progress made in the package of measures to cut state spending by 11.5 billion euros over the next two years and in the execution of this year's budget. However, such a timetable would have resulted in a large delay in the disbursement of the outstanding tranche of the bailout loan to Greece. Stournaras will meet with the representatives of the three parties supporting Greece's new coalition government in order to finalize the measures still outstanding for the 11.5 euros package, which will be put to a meeting of the three party leaders on Monday afternoon. Government spokesman Simos Kedikoglou said the coalition government was making a new, earnest effort. Even in its short time in power it was regaining credibility, and the country's image abroad has changed. "Greece is being treated in a different way. We are still at a marginal point, however," he added. (AMNA)" | |||
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I will see what happens next.
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