No, that was not the stake.
At stake was another bailout of Greece. On top of debt forgiveness. On top of a moratorium.
Greece is structurally incapable of retiring its debt in the next ten, twenty, or thirty years. Greece is structurally incapable of generating sufficient revenues, no matter what level of austerity is applied, to meet more than a fraction of the costs of the “plan of four pillars.” Continue reading