Winning the vote decisively has refreshed the prime minister’s anti-austerity mandate, but rebuilding trust with eurozone members will not prove easyAlexis Tsipras’s response to the Greek referendum was smart. A dumber politician might have been tempted to turn up the volume following the thumping victory for the no side in the referendum. But instead of striking macho poses, the Greek prime minister was emollient. He said Greece wanted to resume talks with its creditors, and backed up his words by getting rid of his finance minister, Yanis Varoufakis, who relished being a figure of hate in Brussels.Emollient and realistic, because, without question, Tsipras is in an uncomfortable position. The Greek economy is even closer to seizing up than it was before Sunday’s vote. The banks remain shut and it looks as if the cashpoints will run out of cash within the next 48 hours. Even if a deal is done in the next few days, Greece is in the early stages of another deep and painful recession. Continue reading...
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