Popular Unity

The Radical Left Coalition (SYRIZA) government fears that efforts are being made to undermine a deal between Greece and its creditors so as to prevent Greece from getting access to funds from the European Stability Mechanism (ESM). The Greek government leadership is concerned that an accident may take place, sending Greece on a course towards a Grexit.

It’s a plot worthy of “Col. Stierlitz”, the fictional Soviet “James Bond” imbedded deep within Nazi Germany’s leadership during WWII, yet according to the Financial Times, ruling SYRIZA party’s far-left wing contemplated a “covert plan” to flush Greece out of the common currency and back to the feeble drachma of old.

Greek Parliament is to vote on a second set of EU-dictated reforms on Wednesday. The vote has caused a rift within the Radical Left Coalition (SYRIZA) party and is expected to pass with the support of opposition parties after 32 of the radical left party’s 149 MPs voted against the first tranche of bailout measures and six abstained.

The EU reforms passed through Greek Parliament at dawn on Thursday have caused deep rifts between Radical Left Coalition (SYRIZA) government members. 39 of the party’s MPs distanced themselves from the government’s policies with 32 voting “No”, 6 voting “Present” and one abstention.

It’s now more-or-less “out of the bag”, but a significant, albeit minority segment of ruling SYRIZA party wants to return to the …drachma!

Prime Minister Alexis Tsipras is in the unenviable position of passing legislation he doesn’t even believe in to avert a Grexit and enter a new agreement with the troika (that is now called troika again).

Greek Prime Minister Alexis Tsipras will fully back the one-article draft law outlining the “Greekment” with European creditors when it comes before a Parliament vote on Wednesday, whereas close aides again flatly dismissed reports that he will resign.

“That would be neither ethical nor expedient,” one close aide stressed.

Greek MP from the main ruling party SYRIZA and alternate foreign minister for European affairs Nikos Hountis announced his resignation on Monday.

He is the first leftist MP to resign since Greece reached an agreement with eurozone leaders on a third bailout on Monday.

The dissenting faction within the SYRIZA party, led by Minster of Productive Reconstruction, Environment and Energy, Panagiotis Lafazanis has presented its disagreements with the government’s proposals to be sent to the EU institutions in a letter revealed Friday.

The radical leftist government has a …“plan” if the Emergency Liquidity Assistance isn’t reactivated after a “no”, a top SYRIZA minister and the leader of the unofficial “internal opposition” said this week.

The exact nature of the plan wasn’t revealed by Energy Minister Panagiotis Lafazanis, who spoke to a Russian news site, Rossiya 24.