It is a mistake not to implement immediately the structural reforms which will lead to the opening up of the remaining so-called closed professions and to the liberalization of crucial sectors of the economy.

Greece does not need any extra time in order to put them into practice.

The political system needs to find the necessary political courage and push ahead with the kind of reforms that will reinforce competition and facilitate much-needed growth.

Clearly these steps should have been taken two years ago, before all the reform fatigue stemming from continuous cuts in salaries and pensions left public opinion feeling completely worn out.

If these structural changes are not implemented right away, however, it is quite likely they will never be achieved at all.

The latter could be a devastating scenario given that the majority of these reforms are to the advantage of private citizens, consumers and businessmen and against the interests of vested interests and different lobbies.