There is something childlike in the Greek government’s view of the bailout that saved their country from utter ruin. The Marxist who plays at being the finance minister of a supposedly capitalistic country is especially endearing. Yanis Varoufakis has declared “victory” after the EU finance ministers forced Greece to do what Syriza promised the voters they’d never do; deal with the hated “troika (ECB, IMF, and EC) and extend the bailout.
EU finance ministers extended the Greek bailout under the condition that Greece continue to abide by the austerity measures that were imposed as a result of the loans Athens received to keep their country afloat. All the grandiose spending plans of Greek’s far left Prime Minister Alex Tsipras are now dead — at least as far as the EU is concerned. If Greece wants to spend profligately, European taxpayers won’t subsidize it any more.
But it still has a hard time sinking in, as Tsipras showed in his statement following the deal:
“We won a battle, not the war,” Mr Tspiras said on Saturday.
The deal is widely regarded as a major climb down for the PM, who won power vowing to reverse budget cuts.