Worst-case scenario

The risk of negotiations with the country’s foreign lenders hitting a deadlock is now evident. The SYRIZA-led government has displayed a stubborn attitude vis-a-vis the International Monetary Fund. And it did so despite clear warnings from the German and Dutch governments, among others.

Now it runs the risk of having to accept conditions very similar to those demanded by the Washington-based institution, but this time without having the Fund’s support in Greek efforts to be granted a substantial reduction to the country’s debt.

It’s hard to think of a worse scenario.