Alexis Tsipras promised Greeks the world, but couldn’t stave off humiliation by his eurozone creditors. While those who voted no feel betrayed, there isn’t a viable alternativeLate last year, as his election campaign neared its end, the Greek prime minister Alexis Tsipras visited Crete to promise people the world. “We will play the drum and they will dance. And because we’re in Crete, we’ll play the lyra and the markets will dance the pendozali,” he said, referring to a traditional, local dance on the Greek island.Fast forward six months and the markets, if not dancing, were certainly breathing a sigh of relief yesterday. But if Tsipras is playing any sort of drum, he’s likely to be beating it slowly and mournfully.Tsipras has to steer Greece through the painful times ahead, and to win back the support of those who once trusted him. Continue reading...
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