Greek Drama is Getting Stickier...

I feel bad for Alex Tsipras, he's an idealist, he's most probably right and he's trying to work outside of the corrupt status quo Troika/politics as usual, he's a man that "could" revolutionize Greece and all of Europe with an amazing transformation or he could be the guy that see's Greece sink beneath the waves, either way the 40-year old politician who looks like this....

will likely look like this by year's end...

Especially after the latest Greek projections of when the country will run out of cash as no one in Greece is paying taxes, "Way to support the government you elected!"

From Kathimerini :

"The state of cash reserves – not robust before – has deteriorated further in recent days due to a shortfall in revenues, as a 1-billion-euro hole in January revenues is putting the execution of the state budget in jeopardy and hampering the management of cash reserves.

According to figures released yesterday by the Bank of Greece, in January the net cash result of the central administration posted a deficit of 217 million euros, against a surplus of 603 million in January 2014. Budget revenues reached 3.1 billion euros, against 4.4 billion in January 2014, while expenditure dropped to 3.2 billion from 3.6 billion last year.

Given these figures, the Finance Ministry estimates that cash reserves will run out next Tuesday. It has the option, however, of using the reserves of general government entities kept in commercial banks in order to cover short-term needs next week. However, the problem that cannot be addressed as things stand concerns needs for the first week of March.

Unless something changes drastically to the country’s funding, Greece will not be able to fulfill all of its March obligations."

That's enough to give you gray hair... So the Greek drama just took a turn for the worse and Germany and the ECB now hold massive leverage over Greece.

The question is will this young, idealistic government who has said they will not back down in no uncertain terms and that doing so was akin to putting the last nail in Greece's coffin, actually back down or exit the Euro-zone which would create havoc for a majority of the EU's less solvent banks and the ECB at large?

The stakes just went up, the timetable was just moved forward and not by Germany this time (Feb 27th deadline).