Eurozone governments taking a tough line on Greece’s demand for debt relief and easier bailout terms fear opening a can of worms. Ceding too much ground to Athens could ignite a broader political crisis by infuriating people in other bailed-out countries in the currency bloc which, unlike Greece, have obediently complied with the demands of creditors and largely restored their financial health through painful – and politically costly – austerity measures. 

Governments in Spain, Portugal and Ireland, which all face elections within the next nine months, fear losing power to parties that, like Greece’s radical left Syriza, are calling for an end to budget cuts and easier terms on debt. FULL REPORT