The international financial crisis that has engulfed the economies of the developed world in the last few weeks is, to a large extent, the result of a collapse in confidence.

In fact, it is both interesting and stunning to see Wall Street take a plunge each time that United States President George W. Bush or other officials in his administration choose to make a public statement about the ongoing financial meltdown.

The financial markets, as well ordinary people, are capable of telling the difference between a credible statement and a public relations stunt aimed at bolstering investor confidence.

Greece’s politicians should keep this well in mind in the difficult days that lie ahead.