Tsipras attacks Spain and Portugal for ‘bailout blackmail’…

Worth noting in passing that the great white hope of the anti austerity lobby has started to attack two of countries closest to it in terms of debt distress:

According to Tsipras in a speech to the central committee of Syriza on Saturday, Greece came up against “an axis of powers led by Spain and Portugal” who tried to scupper the negotiations to “avoid internal political risks. Conservative forces (in Europe) tried to set a trap for us, to drive us into financial asphyxia,” the 40-year-old said.

He may well be gambling on helping to strengthen the hand of Spanish and Portuguese populists, but it reads a little like looking for someone else to blame for his own lack of progress on some pretty high self imposed goals.

  • chrisjones2

    Big boys did it!!!

  • Old Mortality

    ‘According to Tsipras in a speech to the central committee of Syriza on Saturday, Greece came up against “an axis of powers led by Spain and Portugal” who tried to scupper the negotiations to “avoid internal political risks.’

    And the Germans were completely ambivalent, of course. Hopefully, Syriza’s apparent impotence when faced with reality may be a salutary lesson to voters in Spain and Portugal and even Ireland, if SF try to play the same game.

  • its them’uns fault.

  • D99

    Tsipras was just telling everyone what happened at the recent negotiations and why Spain and Portugal behaved as they did:

    “Their plan was, and is, to wear down, topple or bring our government to unconditional surrender before our work begins to bear fruit and before the Greek example affects other countries… And mainly before the elections in Spain.”

    And it’s hard to disagree with his analysis.

    Whether or not there is a successful challenge to austerity policies remains to be seen. But, as we’re about to find out here in NI, preaching and prescribing austerity for others is easier than swallowing even smaller doses of the medicine yourself. Unless, of course, you are already comfortably inoculated against the cuts to come.

  • Cue Bono

    As predicted Syriza has run slap bang into reality. It is all very well endorsing fantasy world politics when you are in opposition, but when you are actually in power you have to deal with the hand that you have been dealt.

  • D99

    And they’ve played their hand very well so far – they’re still in the game and clearly have some of the other players rattled.

  • Cue Bono

    They certainly managed to bluff the people who voted for them.

  • D99

    Nice. But their support at home in Greece is now even stronger than ever.

  • Cue Bono

    They should savour that because it won’t last.

  • kensei

    Spain is a much bigger economy. The figures involved with Greece are not large vs the overall Eurozone. Similarly for Ireland or Portugal. If Spain or Italy come into play then hardball from Germany is probably not viable.

    Even as it is Germany was unwilling to countenance a Greek exit at the last roind because of the risks involved. This is all a dance and the question is where it’ll end up, and will Greece be substantially better off vs not perusing this strategy (and whether it’s actually workable) rather than if they are forced into some compromise or other. They almost certainly will be.

    Keep saying it but for the Euro to function the creditor nations have to accept higher inflation, fiscal transfer or a combination of both.