• The $2 billion difference in the positions of Greece and its creditors seems to suggest that an agreement is within reach.
• However, since the creditor demands have not changed in substance, only in degree, accepting creditor demands would almost certainly confine the Greek economy to many more years in semi-deflationary slump.
• Such a situation would not even relieve much of the debt burden, in fact, it’s likely to increase these.
• Although not helped by the negotiating stance of both parties, much of the situation exposes the fundamental flaws of the eurosystem as such.

Source: For A Few Euros More | Seeking Alpha