Thursday 20 July 2017

Getting best deal is in all of our interests

'On the subject of write-downs, Mr Noonan gave a firm 'Oxi''
'On the subject of write-downs, Mr Noonan gave a firm 'Oxi''
Editorial

Editorial

At the height of the Cold War during the Berlin crisis in 1961 President John F Kennedy noted with despair: "We cannot negotiate with people who say what's mine is mine and what's yours is negotiable."

His words neatly sum up how many view the current omnishambles concerning Greece and the EU. Remarkably, the talk gets cheaper as the stakes get higher.

The Greeks have been backed into a corner in Brussels - back in Athens the feeling is there is nothing to lose. When you are desperate, all risks become equal. Thus they will press for a write-down. This is what Enda Kenny pledged to do in the run up to the last election.

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