Euclid Tsakalotos must know the projections he used to convince lenders of a prospective new deal are based on fantasy figures, say economistsEuclid Tsakalotos failed to raise a smile. As the Greek finance minister moved past waiting reporters, he turned and said that only two or three more issues remained on the table unresolved. In other words, an €86bn (£61bn) bailout package was within his grasp. It was a moment to punch the air in defiance. But he seemed resigned and tired. And well he might be. Not only must the rescue package receive the approval of the German government and its sceptical finance minister, Wolfgang Schäuble, he must know that many of the projections he has used to convince lenders they can be repaid are based on fantasy figures. Related: Euclid Tsakalotos: Greece's secret weapon in credit negotiations Related: Greek stock market surges as outline bailout deal reached with creditors Continue reading...
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