oeps

@js1000 No the banks are not blameless, hence their losses in writing off 75% of their loans to Greece. Greece itself was the borrower and was knowledgeable enough not to be lured into credits it didn't really want. Greece lived the good life in the shape of early retirement, high government handouts and an increase in the traditional cronyism. Now Greece will have to pay for all that itself, finally.

Wanting to stay in the Eurozone seems to depend on the availability of new loans. And really, Greece's EU partners are not willing to continue financing an unsustainable economic system. Inside or outside the Eurozone, Greece will have to make reforms. Tsipras wants to run a very expensive social system without a corresponding earning capacity. So unless Russia agrees to finance him permanently (like Cuba in the past), Tsipras will either have to spend less, start collecting taxes, or actually start making some money. Borrowing on the open market will cost 35% interest.