The Ultimate Game Of Chicken Has Begun In Europe
Jun. 21, 2012
Prior to Greece’s election this Sunday, the assumption was that if left-winger Alexis Tsipras won, and steadfastly refused to comply with the current bailout, then a huge game of chicken would commence.
Would Tsipras back down (risking future bailout money?) or would Europe back down (out of fear of a Greek exit).
But Tsipras did not win, and so the assumption was that the Samaras government would quietly renegotiate the bailout (modestly).
However the idea of a quiet and modest renegotiation is not how things have started off.