Greece Melts | Via Meadia: The one policy option that Greece has now is to avoid a rupture with Europe but to go back to Brussels and try to get a better deal. This is the policy that Antonis Samaras, the leader of the party with the most seats in the new parliament advocated during the election campaign. Under the Greek constitution, he now has five days to form a government that will command a majority in parliament; if he fails, the anti-bailout “Coalition of the Radical Left” party which came in second gets a chance. And if they fail, the third place, pro-bailout Pasok (moderately leftist) gets a chance.
If as now seems likely, nobody can get a majority, Greece votes again in in a few weeks. The trouble is that by that time, Greece could well be out of money to pay pensions and civil service salaries. Some think this would force Greece out of the eurozone; possibly the government would just pay employees and pensioners in scrip — a promise to pay later that could be used to pay certain bills or traded at a discount for cash.
