by Paul Waugh | Opinion
The cartoon that’s gone viral in Greece this morning is of Alexander the Great with bloodied nose. Also viral was the hashtag #thisisacoup. And for Alexis Tsipras, for all his claims to have secured a major debt restructuring and lasting settlement, the humiliation is real.
If the deal fails, Greek banks face collapse and Grexit could still follow. The FT says the Greek PM may have to rely on his political opponents to get the plan through. Expect a Cabinet reshuffle and maybe even a unity government by the end of the week.
The clock is still ticking. Four pieces of legislation must be passed by the end of tomorrow, including pension and VAT reforms. But Defence Minister Panos Kammenos, a junior coalition partner, has already said he will not support the measures.
If the deal fails, Greek banks face collapse and Grexit could still follow. The FT says the Greek PM may have to rely on his political opponents to get the plan through. Expect a Cabinet reshuffle and maybe even a unity government by the end of the week.
The Mail has a line that George Osborne will fight off attempts by the euro-zone to make the UK pay £850m to the bailout cost.
Speaking of fiscal autonomy, our own independent Bank of England governor Mark Carney gives evidence on the quarterly inflation report to the Treasury Select Committee at 10.15am today.
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* Paul Waugh, is the Executive Editor, Politics, HuffingtonPost UK.
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