Alexis Tsipras and Recession

recession: Investors were the first to run for the hills, anticipating that the political stand-off would end in elections that would usher in Alexis Tsipras anti-austerity Syriza party, and a confrontation with the country bailout creditors, according to Bloomberg. Savers were not far behind, and with the economy drained of liquidity, Greece was officially back in recession by the end of March. The unraveling that followed shows just how fragile that recovery was. Already shorn of bond market access as Samaras own efforts to seal deal to release more bailout funds floundered, the rout killed any lingering hopes that Greece could stand alone. With savings fleeing, so dependence on the European Central Bank for funding rose, tightening creditors' grip on Tsipras government after he replaced Samaras in January."We've got massive capital outflow, we've got a huge debt that not sustainable, we've got a recession and there no investment," said Gianluca Ziglio, a fixed-income strategist at Sunrise Brokers LLP. "It a tragic situation from all points of view."Still, Tsipras government has held back on agreeing terms demanded by creditors longer than many anticipated. The point was not lost on Greeks with deposits at the country banks. (news.financializer.com). As reported in the news.