Greek govt vs. the "bogey man"! Subserviance or strangulation?

The Radical Left Coalition (SYRIZA) government is looking at finding an interim agreement that could lead to the funding of a Greek economy, averting a Grexident at least until June. Prime Minister Alexis Tsipras is directly involved in negotiations, and is resolved at examining all possibilities, even that of a possible clash with the country's international creditors.

On Sunday, Tsipras reportedly had phone contact with German Chancellor Angela Merkel where both expressed a mutual desire for continued communication so that a beneficial solution could be achieved for all sides. Tsipras also had phone contact with Eurogroup President Jeroen Dijsselbloem, requesting a speed-up of the process for an interim agreement for April 30 as foreseen in the February 20 agreement. In this talk, it was agreed that discussions would reopen with the Brussels Group.

The Greek government was particularly troubled by the attack against Greece shown by Eurogroup finance ministers during the meeting at Riga, Latvia, on Friday. The reaction at the meeting was in direct contrast to the positive messages that Tsipras had received in Brussels during the previous day.

A huge question mark looms as to whether an agreement will finally be reached. Athens needs clear progress, if not a decision and the completion of an interim agreement until the start of May, as there are IMF installments worth hundreds of millions of euros coming up. The government is considering the transfer of some "red lines" of secondary importance, but not those on basic issues such as pension reductions.

Deputy Prime Minister Giannis Dragasakis said that if Greece's partners insist on the strangulation of the Greek economy, then the government would need to examine measures that could be taken...