Comments from Carsten Brzeski, chief economist of ING-Diba AG in Frankfurt as reported by Bloomberg:
"Merkel has still got an outstretched hand to the Greeks, but it's pretty clear right now that she's not going to move beyond the middle of the table to seal a deal at any price
The Greeks must wake up fast to the reality that Germany has done its homework and gauged that a Greek euro exit is manageable"
The Bloomberg piece also quotes a "person who asked not to be identified discussing government deliberations":
- German chancellor says she wants to keep the euro intact
- (but) Tsipras is probably overestimating her willingness to compromise
- Her stance is backed by a chancellery estimate that the financial impact on Germany of a Greek default would be limited to 1 billion euros ($1.1 billion) a year
