Overnight there has been the great war council between the previously known “troika” and Tsiparas.
From the backdoor news seems that the siege of Greece has been won and Greece surrendered, even crossing their red lines re pension and labor reforms.
Probably in the midst of it there are also a still secret (till September/October) third bailout package (Greece definitely does not have the money for July – August mega bailout).
The headline will be a win for Europe. In reality the situation improved dramatically when the US weighted in for military purposes (previous post), so there will be other conditions that we will never know.
The market will cheer, but it is hard to see how the war can ever finish as Greece is without economic capacity of recovery.
If, for any reason, Greece would not surrender pacifically – the conflict will turn ugly and Greece will be suffer the economic equivalent of a “Medieval sack”.
Some says with no deaths – unless you start counting suicides (the most recent study I found is the Hellenic Statistic Study found that between 2010 and 2012 there has been an increase of 35% of suicide rate versus the norm)
investorpolitico 