Comment: Greece tremors leave capital wondering

Ian Rogers
Is it global finance that has Alexis Tsipras and his once-eurosceptic Syriza Party at sixes and sevens over Greece's disentanglement from the easy credit that is a hallmark of a modern, integrated economy?

Or does Syriza have the more sophisticated position?

Tsipras' preferred game plan for the coming days seems to be an open question.

The mechanics of the Greek default whirred into motion yesterday amid inconclusive babble on a last minute fix.

"Inside or outside the euro?" is the centrepiece of the framing of Sunday's referendum.

Tsipras and some colleagues seem to think Greece stays in the euro from now on. The troika, egged on by Angela Merkel and the German banks, may have other plans, starting with capital controls.

Yet a clean break and a return to the drachma is a real and pragmatic option - the one most likely to restart confidence, demand and employment.

Tourism to Greece would recover a super cheap aura. Its intrinsic appeal would build the economic recovery and the opening of demand for Greek debt.

One foundation for a recovering Greek economy may be the confidence and enthusiasm of the citizenry for the direction of its progressive government.

Tsipras is counting on a continuation of popular support to deepen and extend the legitimacy of his radical government.

The alternative is to embrace further austerity, and 'Yes' to this option leads in several opinion polls.

It will take skill by Tsipras to produce a 'No' result, if that is in fact what he and Syriza truly want. So far, the only game in town seems to be gamesmanship.