Greece and the Art of the Deal

Last week the FT reported, under the headline “Resentment and a collapse of trust make last-ditch deal more difficult” (6/20, p.2), that one night, when the Brussels bureaucrats were burning the midnight oil waiting for the Greeks to fill out their very sketchy last-ditch proposal, the Hellenes were spotted strolling around the Sablon restaurant district recreating themselves. A couple of days ago, FT writer James Mackintosh added the following: “Another day, another missed deadline. Greece has finally jotted down a few rough notes, so eurozone leaders offered their least-favorite pupil yet another homework extension, hoping it will be turned into a deal this week.”

The Greek crisis provides superior entertainment in that it is both interesting and unimportant. It is clear, however, that the present Greek government is committed neither emotionally nor philosophically to a solution that is compatible with the Germanic requirements of a single currency.

I wonder what sort of solution we would want if we were Greek?