European capitals and financial markets assume that a deal will be done but with 72 hours to find a solution, the possible outcomes are limitedBrussels and brinkmanship. It’s a familiar mix. The EU has been there many times before. The latest episode involves the standoff between Greece and the other 18 eurozone members over whether the new Syriza-led government should be forced to stick to the terms of its bailout, despite the Greek people voting for an end to austerity in last month’s general election.The assumption, both in European capitals and the financial markets, is that a deal will be done. That, after all, is what normally happens. An honest broker proposes the outlines of a deal, both sides give a little and a compromise is reached in the early hours of the morning. Continue reading...
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