Because the politicians don’t have to.
The Troika is pushing for Greece to implement some of the harsh austerity measures they agreed to at the height of the crisis but Greek officials are pushing back.
Greece is now shopping around 3 year bonds to local banks and Reuters reports that the government thinks it can get 3.5%. That’s a high rate considering German 3s are trading at 0.04% but it’s far from the kind of yield that will bankrupt Greece in the near term.
If you’re a Greek politician, you care more about getting through the next few years and keeping power than making sure the long-term health of the country is taken care of. It will slowly stoke another crisis but it’s years away.
