Editorial EDITORIAL

Have we learned our lesson?

COMMENT

Greece has gone through a crisis unlike any other in its recent history. It went bankrupt because its politicians were inept and arrogant, as was the elite that makes up its ruling class.

Three bailout agreements were designed in an attempt to mend some of the deep structural problems that Greece was suffering from.

They were disparaged and fought by powerful interest groups and politicians who refused to take ownership of the reforms. As a result, the lenders had to force brutal cuts on salaries and pensions.

Yet after a decade in crisis, the country still has no serious growth plan and is at risk of slipping back into its bad old habits. It would be terrible if this were allowed to happen.

We desperately need a Greek plan that will give us confidence and restore the country’s credibility.

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