Member states of the European Union

Geopolitics versus politics in Greek debt drama

By Paul Taylor

In the tug-of-war over Greece's debt crisis, geopolitics and domestic politics are pulling in opposite directions.

Greece's strategic location and ties to Russia give its new leftist-led government some leverage in its struggle to make European Union creditors ease up on austerity and give Athens more time to repay its mountain of debt, if it ever does.

Greece could get funding 'from another source,' says defense minister

Greece could turn to "another source" for funding in the event that a deal is not reached with its eurozone partners and Berlin in particular, Defense Minister Panos Kammenos said on Monday night, adding that the government - in which his party is the junior partner - has an "obligation to go to Plan B."

WSJ: Greece is in danger of running out of cash soon

According to Wall Street Journal report, Greece is in danger of running out of cash in weeks.

As WSJ indicates, if Eurozone officials didn’t make the above decision then Greece would have been able to take a breather for about 4-6 months, which is enough according to the Greek Government to conclude negotiations.

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