The world awaits the list of reforms that the Tsipras government is to put before the “troika” by the close of trading in Europe later today.  We’ve truly no idea what reforms Mr. Tsipras shall put forward, but we have no doubt that in the end they will be less than that what the Germans want the Greek government to do and they will almost certainly be disappointing. 

 

They really cannot be otherwise, for Mr. Tsipras has no choice and his political party, Syriza, was elected on a platform of non-compliance with German austerity demands. He really has no choice but to put forth a tepid list of reforms, perhaps focused upon better and more serious tax collection and the like. But will Tsipras be able to secure a pledge of several more years of austerity from the Greek people? Given the stunningly high levels of unemployment levels in Greece and the continued weakness of the economy and the stunningly high levels of unemployment, he has no choice but to be expansionary in his fiscal policies, not deflationary. There is no on the path, he can take