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George Lilis: Latest developments make an interim agreement a little more tangible

Several developments in recent weeks have led to a change of circumstances and thereby the strategy of both sides is bound to change as well. On the one hand, they are trying to avoid a possible crisis of the Eurozone edifice as a result of a new Greek bankruptcy and a possible Grexit. On the other hand, they wish to avoid the strengthening of extremist parties in the EU and especially in Spain.  The pressure on the Greek side is rapidly mounting. In my opinion, however, the most important question is how SYRIZA will manage to withdraw from its red lines and retreat from its known commitments within the country to the electorate. This would prevent a possible bankruptcy and allow the European economy to continue its hesitant recovery.Chances are that the two sides will meet somewhere in between, although this point will clearly be much closer to the creditors’ positions.  This balance point will allow Mr. Tsipras to celebrate boast within the country for having negotiated hard and remained firm on his government’s red lines, while at the same time it will offer a powerful lesson to the people of the Eurozone, i.e. that the strategy of Greece does not lead anywhere.

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