Greek Update: Proposal? What Proposal? I Thought You Were Going To Make A Proposal

Greek Prime Minister Alex Tsipras, accompanied by his new finance minister, Euclid Tsakalotos, arrived at an afternoon meeting of Eurozone finance ministers without a formal written proposal. That’s right. No proposal. The Wall street Journal reports,

Emboldened by Sunday’s poll results, Mr. Tsipras’s government sought a consensus with opposition parties for a new bailout proposal to present. But that plan offered no economic-policy specifics beyond a call to reduce Greece’s debt mountain.

At the so-called Eurogroup meeting of finance ministers, Mr. Tsakalotos read out proposals the government had presented last week, but promised that a new plan would be sent to creditors on Wednesday, three European officials said. That would allow Mr. Tsipras to await the outcome of the summit before he commits to any new moves.

He asked the finance ministers to approve interim financing until the end of the month when Eurozone leaders meet again to discuss the Greek situation.

Needless to say, they were not amused. Many warned that Greece will be expelled, unless he gets serious.

I do not think they realize that he is serious.

Meanwhile, the banks remain closed and they are running out of cash.

He advised the ministers that a new proposal will be submitted tomorrow, but they do not appear to be willing to negotiate. I believe Tsipras is attempting to milk this process as much as possible to expose the Troika, the finance ministers and the eurozone leaders as money obsessed capitalist pigs with no social conscience.

He just wants to make them look bad.

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Frederick Leatherman

Frederick Leatherman

I am a former law professor and felony criminal defense lawyer who practiced in state and federal courts for 30 years specializing in death penalty cases, forensics, and drug cases.

I taught criminal law, criminal procedure, law and forensics, and trial advocacy for three years after retiring from my law practice.

I also co-founded Innocence Project Northwest (IPNW) at the University of Washington School of Law in Seattle and recruited 40 lawyers who agreed to work pro bono, assisted by law students, representing 17 innocent men and women wrongfully convicted of sexually abusing their children in the notorious Wenatchee Sex Ring witch-hunt prosecutions during the mid 90s. All 17 were freed from imprisonment.