Last-ditch debt talks between Greece and its international creditors collapsed for the second time in less than 24 hours on Thursday, pushing the country towards the abyss of an unprecedented default in five days' time. A second meeting of eurozone finance ministers was aborted after Athens failed to give ground on an ultimatum presented by its paymasters. In the three-hour meeting, both sides could not agree on a final version of a deal to report back to European leaders convening for a two-day summit. The moment that Greece postponed repaying the IMF a couple of weeks ago was the start of the end game. Now the IMF has pulled out of further bail outs and the EZ and ECB can no longer carry their taxpayers to fund the rest unsupported. It wouldn't matter what proposals Greece puts forward now, none of them would be credible enough to seal the deal. Grexit is inevitable. It was inevitable two years and many billions ago. A pity that no-one was prepared to admit it, a lot of grief could have been spared ... so the gloves are finally coming off, threatening intimidation from the EU cannot defeat a political ideology that beholds different economic principles. Greece can be pushed only so far,if pride takes over they just might walk away knowing the creditors will lose everything ensuring both sides will suffer turmoil. This tale has an inevitable outcome, either a win-win for both sides or a lose - lose . the Greek government cannot accept the humiliation of an enforced lose-win, that would be political suicide. Go back to the Cuban Missile crisis, Kennedy gave up American missile bases in Poland in return for the Russian fleet turning back from the naval blockade. That deal averted a nuclear war, ensuring a lose - lose scenario resulted in a win- win. Same applies here, although the result could go either way...
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