Hang Tsipras out to dry, fine, but not the Greek people too

The Greek prime minister has backed himself into a corner. With his people facing €60 cash withdrawal limits at banks, they may well choose to side with Europe in a vote, writes Hugo Dixon

IT LOOKS like Alexis Tsipras is crumbling. After the banks closed and public opinion started moving against him, the Greek prime minister seems desperate for a deal with his creditors. Athens has now defaulted to the IMF, adding to the pressure. But it is not clear if lenders will cut him any slack. They may prefer to deal with his successor.

When Tsipras announced last week that Greece would hold a referendum on whether to accept a cash-for-reforms deal proposed by the eurozone and IMF, he said the proposals amounted to “possibly the humiliation of an entire people”.