Greece PM Tsipras could count on the backing of the democratic opposition parties in parliament even for a tough deal, which would offset the loss of his left wing. It is believed that, the interest of the party has been put before that of Greece. In addition, even if the political decision is made by Tsipras to produce a viable proposal, Athens could be technically unable to do so in 48 hours. They will need help from the institutions. And even if they deliver, the reform agenda will have no ownership in Greece and foresee substantial implementation risks, which could come to the fore within weeks, notes BofA Merrill Lynch.


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