Nerve Racking Moments

Europe is playing hard ball. More like Rugby to be honest. Yesterday's Eurogrpoup meeting has highlighted one fact again. The huge discrepancy between the positions of Greece in the negotiations with its European partners and the conditions and expectations of the Eurogrpoup members from Greece, respectively. No happy faces today, plenty of tension instead. This negotiation process does not warrant for a happy outcome for many reasons. Bold statements and accusations have been made on both sides and I am afraid that the negotiation process has converted itself into a clash of egos. This is why we are running out of viable solutions. In this clash of egos each party is depriving itself from the possibility of an easy re-grouping. Clearly, statements made by Mr. Schauble about the Greek Nation are adding to the explosive political climate, unless these statements are made for a purpose and are not the result of fatigue.

Interactions between the parties involved are also moving away from technical issues, such as the obvious failure of the rescue plan, as enforced until today, and the focus has shifted towards the understanding that even common press statements are no longer possible, just to underline the gap between the parties. In this game, Greece stands alone against 18. Greece is used to bad odds. Bad odds are an integral part of its DNA. Once more we are witnessing the arbitrary definition of what is reasonable and what is not through the logic of volume and authority. Right and wrong is defined by the number of supporters on each side and of their size. It appears that windows of opportunities to reach agreement and common understanding are lost in translation and when everyone is out of solid arguments everyone resorts behind their initial position, as at the outset of negotiations or more accurately as dictated by whomever has the authority to do so. Form is prevailing over substance at this point and whether we call the solution an "extension" to the existing plan or a "bridge arrangement" bears little significance from a material point of view, however, it gains value from a "marketing" perspective to render it sellable internally. The Troika will be replaced by "an Expert Committee" and the only thing that comes to mind is Shakespeare's line from Romeo and Juliet, that "that, which we call a rose, by any other name would smell as sweet". What appeared only last week to be a 30% discrepancy in reaching common agreement about the revised rescue plan has become 100%, as of last night. Yanis Varoufakis told the press that he was ready to sign the agreement on the way forward with Gerun Dijsselbloem, only to reveal minutes later that the document presented for his signature had been modified to comply with the language Germany wanted to see on this statement. If this really happened, then trouble is more serious than initially estimated. When Germany does not shy away from the employment of manipulative actions against her partners, then Germany is an "unfaithful mistress". I have no doubt to believe that Yanis Varoufakis is telling the truth. Because if it really happened, then I see the value in Mr. Schauble's explosive statement. You simply cover up one "faux pas" with a bigger one. And this Ladies and Gentlemen is probably one little sniff into hardcore diplomacy.

by Theodore Patsellis - PRP Law