A little-noticed detail from the sandstorm of information blowing out of Greece: European Commission president Jean-Claude Juncker yesterday revealed that the Eurogroup was ready to discuss writing off at least some of its debts.
He added that Alexis Tsipras was well aware of that major potential concession during last week’s talks.
Unfortunately, the Greek Prime Minister seems not to have mentioned much of this to his electorate.
True, this huge potential concession seems to have been more nod-and-wink than dotted-I-and-crossed-T.
But that’s how these sorts of long-running negotiations work, particularly in Europe. You sign an agreement, then decide what it really means later.
A “yes” vote on Sunday is not just for the Eurogroup’s written proposal, but for a continuation of many more years of give and take between Greece and its creditors until, eventually, the crisis fades and Greece becomes a fully functioning part of Europe.
I hope this is the path Greece chooses.
