What else the article says beyond the headline does not really matter much: the headline is the story that after five years of misery having been imposed, wholly unnecessarily, on Greece there are many who would argue that the misery should persist to ensure we do not “frighten the markets”.
So who are “the markets”? Let’s be blunt, it’s banking and related financial services entities. That’s it. No one can pretend that “the markets” are anything else but the vested interests of the City of London and its related entities around the world. It is this elite who must not be “frightened”, poor little dears that they are.
76% of the Greek debt is owned by governments (or bodies owned by governments).
The banks, the private sector holders, all already took a 70% haircut, recall? Maybe without much good grace but they did take that haircut.
This is about which Courageous State should have to take the next tranche of losses.