Another Normal Crazy Day in the Greek Crisis

A day of conflicting reports and dashed expectations on Wednesday left economists and analysts bemused over whether Greek Prime Minister Alexis Tsipras was any closer to a deal with lenders.

“Yesterday was another day with tactical moves from all sides in the Greek crisis and a Socrates-like conclusion: all we know is that we know nothing,” senior economist at ING, Carsten Brezski said in a note Thursday.

“Day one after Greece’s default on the IMF, which officially is not called default, and the end of its bailout program offered again plenty of turbulences. A new letter from Tsipras, speculation about a cancellation of the referendum, Angela Merkel in the German parliament, Tsipras on television, a Eurogroup conference call…This is the summary yet another ‘normal’ crazy day in the Greek crisis.”

It comes after two seemingly conciliatory letters sent from Tsipras to lenders raised hopes that Greece was ready to capitulate to lenders demands on reforms and spending cuts.

via CNBC

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