This Greek deal is a bad joke
By Iain Martin
- The terms of the Greek deal which emerged this morning are absurd, writes CapX Editor Iain Martin.
- In exchange for a further bailout, 50bn Euros of Greek government assets will be privatised.
- Do these assets even exist?
- Is anyone going to buy them even if they do?
- If so, expect populist anger about Greece being flogged off cheap in a German-run auction.
- It’ll be a miracle if this deal holds more than a few months.