ABSTRACT
European politics is characterized by close cooperation between the state and economic interest groups. Such cooperation is often referred to as corporatism, "tripartism", or "social partnership". Differences and similarities in the ways in which the state and economic interest groups interact is also known as "Varieties of Capitalism" which divides modern industrialized democracies into liberal market economies (LMEs) and coordinated market economies (CMEs). The only way out of this Greek tragedy was for Syriza to accept the bail-out conditions in order to get a fresh influx of monies. Despite fears that Greece would exit the Euro-zone, the so-called "Grexit", Tsipras has steadfastly maintained that he wanted Greece to remain in the Euro-zone. Thus, the only option for Greece was to agree to implement drastic austerity measures such as spending cuts, tax increases, pension cuts, increases in health care contributions, anti-corruption programs, value-added tax reforms, and others.
