Bloomberg quotes Global Business and Economics Program Director Andrea Montanino on European leaders waiting for Greek Prime Minister Tsipras to compromise as his country buckles under capital controls and fails to make its International Monetary Fund payment:
An 11th-hour request for a new two-year rescue package to tide over a ravaged economy was sternly dismissed by German Chancellor Angela Merkel. With Greece’s stay in the euro club at stake, finance ministers in the 19-nation bloc are scrambling for a solution to pull Greece away from the precipice after more than five years of crisis fighting and two bailouts.
“People are just completely fed up,” said Andrea Montanino, a former IMF Executive Board Member who now heads the Global Economics Program at the Atlantic Council in Washington.