Reuters
June 17, 2015
The negotiations between Greece and its creditors over how to prevent the country defaulting are already in extra time. They have dragged on for so long that it might seem sensible to bring them to a swift, sharp conclusion.
However, the best chance of avoiding a disastrous blowup is to extend the talks for a little longer. This will require all participants – Athens, the euro zone countries, the International Monetary Fund, the European Commission and the European Central Bank – to maintain their cool.
The current state of negotiations is not good. Trust is low. Alexis Tsipras, the Greek prime minister, has accused the IMF of “criminal responsibility” for the country’s problems. Meanwhile, Jean-Claude Juncker, the European Commission president, has alleged that Tsipras has misled the Greek people about what the Commission has been proposing.
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