Why Angela Merkel won't back down on Greece: Fisher
German Chancellor Angela Merkel will take pains to appear she is extending an olive branch to Greeks, but there is little room left to negotiate after Greeks voted "no" to a package of reforms put forward by the country's European creditors, former Dallas Federal Reserve President Richard Fisher said Monday.
"Ultimately, people report to their own people, and [Merkel] has to be supported by the German parliament and the German people," he told CNBC's "Squawk Box." "There is a limit of tolerance and she knows what that limit is."
"She is the modern Margaret Thatcher," he added. "You remember how people hated Margaret Thatcher. She is really the Iron Woman of Europe, and I think she adopts a principled position."
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