Greece’s biggest anti-bailout party, Syriza, said for the second time in as many days that it won’t join a unity government — ECB’s Honohan Says Greece Euro Exit Can Be Managed

Greece's anti-bailout party is sticking to its guns and won't join a unity government. It might become one of the first time in recent history that democratically elected people would actually respect their campaign promises!

(Bloomberg) May 13, 2012 — Greece’s biggest anti-bailout party, Syriza, said for the second time in as many days that it won’t join a unity government, pushing the country closer to new elections that have sparked concerns about a euro-area exit. 

“Syriza won’t betray the Greek people,” leader Alexis Tsipras said in statements televised on state-run NET TV after a meeting brokered by President Karolos Papoulias between the party and the leaders of the New Democracy and Pasok parties. “We are being asked to agree to the destruction of Greek society.”

The paragraph just above from Alexis Tsipras is a lifetime lesson in politics: "Syriza won't betray the Greek people": I hope it doesn't and stick to their campaign promises, but what Alexis Tsipras is asking for, is for Syriza to actually join the unity government, to save the banks, (and hence he's calling them to betray the people and their promises). And he calls that "not betraying the Greek people". 

The Greek society has been destroyed by the last 70 years of people like him leading the country to its financial and democratic bankruptcy. Yet, he's trying to push the burden on Syriza, and pretending they are the ones destroying their society.

Lifetime lesson for me, and I hope for everybody who's reading this. One thing you can be sure of, is that the media and history books will convey only Tsipras interpretation, instead of the truth.

After printing hundreds of billions of Euros, trying to save European banks from a Greek default, the money is down the sink now, and it seems like the ECB finally realised that this battle against the inevitable won't be won, and that the markets will prevail. I hope Trichet is watching this mess, the result of his arrogant, ignorant, and destructive policies.

It is now qualified as a "non-attractive" event, while 2-3 years ago, it was "the end of the world".

(Bloomberg) May 12, 2012 — A Greek exit from the euro could be “technically” managed yet would damage confidence in the monetary union, said European Central Bank Governing Council member Patrick Honohan. 

A departure by Greece would be “a rather destabilizing kind of event” for the rest of the euro area and all sides are working to try to avoid it, Honohan told a conference in the Estonian capital, Tallinn, today. “It is not necessarily fatal, but it is not attractive.”