Bild in Germany this morning leads with the “news” that there will be a putsch today in Greece led by Nia Demokratia. On closer examination it merely has an ND bag of wind saying the Samaras-led Party will raise Parliament’s awareness of the “cowardice” of the proposed referendum “and get it scuppered”. It’s a little vague on the “how” bit, but probably Freddie Starr will be involved somewhere: perhaps he’ll eat Alexis Tsipras’s hamster.
More seriously, an anti-EU but still badly-briefed piece appeared in the UK’s Sunday Telegraph saying that the Syriza leader now wins either way….either the credtors blink and retreat, or Syriza gets an electoral approval of his rejection of the Troika2 terms.
One thing it is right about, however, is that Greece will start to default on Tuesday, and be in a kind of limbo for four days prior to the vote next Sunday. July 5th is the day after American independence day, and the significance of that goes beyond ironic: Wall Street would normally go into Holidays mode from Thursday lunchtime onwards.
None of the British Sunday papers featured the Greek development on the front page.
The ECB et al gleefully announced that both the €15bn of ELA and other half-promised monies would now not be available. “We will pull the plug by Thursday latest,” said one source.
The limbo expectation was reflected by all-night queues at the ATMs in Athens, as locals tried to ensure they have enough cash once the banks close….probably Monday afternoon. The Slog picked up allegations from both Ireland and Athens over the last few days that Syriza has been printing Drachma bills in the Emerald Isle for some time…with the shortfall being taken on by a firm in Switzerland. One wonders what currency the printers want to be paid in.
Greece bids to restore its democracy. Nothing to see here, move along now…