..Prime Minister Alexis Tsipras’s government is burning through cash while trying to get its creditors -- euro area member states, the European Central Bank and the International Monetary Fund -- to release more money from its 240 billion-euro bailout program. European governments have said they won’t disburse any more emergency loans unless the government in Athens implements a set of economic overhauls agreed last month, including pension and sales tax reform..
Greek banks are relying on emergency liquidity from the ECB to the tune of 100 billion euros. That compares with about 45 billion euros at the end of November. All this liquidity, to prevent capital flight and a run on Greek banks, and the ongoing bailout funds come with too many strings attached for the Greek people to accept.
So Dopey, regardless of what happens on Friday the threat of Grexit lingers until it becomes a 'surprise' reality. Why? Because social mood is turning - not only in Greece and in Germany but throughout Europe. Both anti-austerity and anti-bailout sentiment is on the rise. And there's not thing one troika can do about that.
