Showdown!

So it's showdown at the coral for the Greek government this week. There are
troubling aspects as to how we got here. Greek already got debt relief
from its private creditors, what has now stalled is the agreement with the
institutional lenders. Anf it did reach a surplus debt service not considered, as
it was supposed to. Trouble is, when it did, the economy started to
slow down dangerously. So the government is resisting further cuts in government
spending for the moment. That's the Greek government's position.

There is no doubt participation in the Eurozone is precious to Greece,whose
economy is 85% service, with some agriculture. They have made cuts to pensions already,
and if the remaining provisions appear out of step with the European norm, surely
that can be worked out calmy with an eye to Greek demographics.

Europe is a diverse space. Greece is a jewel, perhaps not always cashing in on
all those romantics who gather there as tourists. (Indeed Greece welcomes in a
year 20 million tourists for its 10 million population. Phew!). It would be a great
 pity to force things otherwise.