Easing the pressure
No one in their right mind would insist that Greece adopt more fiscal austerity measures today.
The country has already made an unprecedented effort in trying to get its once disorderly finances back on track. But the simple truth is that society just simply cannot take any more taxes.
Anyone pressing for more revenue-raising measures through taxes is playing with fire.
On the other hand, the negotiations between Athens and the so-called troika of international lenders need to reach some kind of resolution soon because extending the period of uncertainty entails huge risks not only for the economy but also for the political equilibrium of the country.
For the talks to reach a comprise, however, certain members of the troika need to back off and stop suggesting that Greece’s fiscal gap is much bigger than it actually is.