The Endgame in Greece


Greek Finance Minister Yanis Varoufakis (L) and International Monetary Fund Managing Director Christine Lagarde (R) at the start of the Eurogroup meeting of Finance ministers in Luxembourg, 18 June 2015.

The Endgame in Greece

PARIS – After months of wrangling, the showdown between Greece and its European creditors has come down to a standoff over pensions and taxes. Greece is refusing to acquiesce to demands by its creditors that it cut payments to the elderly and raise the value-added tax on their medicine and electricity.
Europe’s demands – ostensibly aimed at ensuring that Greece can service its foreign debt – are petulant, naive, and fundamentally self-destructive. In rejecting them, the Greeks are not playing g...

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