Greek Negotiations Degenerate to Schoolyard Taunts

People are hedging bets against the default of Greece on its debt, and the exit of Greece from the Euro. Greece: UK ‘Steps Up’ Preparations For Grexit.

Things have basically devolved to name-calling.

Greece’s Prime Minister Alexis Tsipras called the International Monetary Fund (IMF) “criminals” – after accusing them and Greece’s other two creditors, the European Central Bank (ECB) and European Union (EU), – of trying to ‘humiliate’ the Greek people.

In a televised address to members of his Syriza party, he accused the lenders of being politically motivated in their demands for pension cuts and tax hikes that would hit the poor.

But European Commission President Jean-Claude Juncker said he had been clear with Mr Tsipras that he was against increasing taxes on power and pharmaceuticals.

“I’m blaming the Greek government for telling things to the Greek public which are not consistent with what I told the Greek prime minister,” he said.

One side is screaming, “You’re mean!” and the other is yelling, “Liar, liar, pants-on-fire.”

I don’t suppose that anything constructive will come out of that.