The path toward a long-term deal on Greece’s bailout will look like a “rugby scrum,” the chief debt negotiator during the Greek financial crisis told CNBC on Monday, invoking the image of two adversaries fighting in close quarters for mere inches of progress.
“We are likely to see more brinkmanship. I’m afraid that we’re going to see continued volatility and uncertainty surrounding Greece for quite some time. This is not over yet,” Charles Dallara said in a “Squawk on the Street” interview.
Greece will present its economic reform plans on Monday to seal a euro zone financial lifeline, but the government drew criticism from a veteran leftist and ruling party member that the deal let voters down. The request that Greece submit detailed proposals by Monday—part of an agreement reached Friday to extend the bailout for four months—was “a little bit premature” and will set up the scrum, said Dallara.