The Greek government has submitted the long-awaited list of reforms to the lenders but the initial signs do not point to an agreement anytime soon that could open the spigots of liquidity to the cash strapped economy. Fully aware of the difficult choices ahead, some in the government obviously think they could strengthen the country’s negotiating position by raising the specter of a breakup in the negotiations with the lenders that could even lead to a euro exit. However, these tactics weaken Greece’s position further rather than strengthening it and should be abandoned.
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