Abject surrender is never easy

The tide of national opinion appears to be turning against the sovereignty sell-outs of Syrizia:

The Greek leader is fighting for political survival after abandoning his opposition to austerity earlier this month with his country on the brink of financial collapse. He’s trying to hold off elections long enough to steer the country through the bailout negotiations, Michaelides said.

The plenary debate began at about 9 a.m. in Athens with the vote in the Greek parliament scheduled for around midnight. The bill under consideration includes the transposition of the European Union’s Bank Recovery and Resolution Directive into national law, as well as an overhaul of Code of Civil Procedure.

“There is a risk of the number of rebels growing,” said Michael Michaelides, a fixed-income strategist at Royal Bank of Scotland Group Plc in London. “It will be a question of whether Tsipras can maintain the party under control to prevent unwanted political developments.”

Considerable risk, I should think. But I think it’s cute that they call what is little more than an unconditional surrender veiled by a modicum of trivia to help the sell-outs save face “negotiations”.

The more interesting thing is the word that Tsipras had intended to go back to the drachma, but neither Russia nor China would come through with the $10 billion they needed to print drachmas. But I’m not sure I buy that, as they could have simply declared they were back on the drachma with or without the notes.