Saturday December 20, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Supervision and illusions

By Alexis Papachelas

Champions of a Greek return to the drachma, on both the left and the right of the political spectrum, all share a conviction that we should take into serious consideration: Even if the debt-hit country ditches the memorandum and the IMF supervision comes to an end, the economy will still have to remain under strict fiscal control.

There are many reasons for that. Most of them have to do with what our Northern European peers think about our political system as well as the countrys elites. Despite serious efforts, trust in Greece has not been restored. The most popular forecast, which is based on the lingering stereotype about Greeks, is that when these guys come out of supervision, they will soon switch back to their old habits. It may sound unfair, but that is what outsiders really think about us.

Overall, the eurozone is moving toward stricter inspecting mechanisms for fiscal policy and the banking system. It is more or less taking for granted that members of the common currency area will give up more of their sovereignty on these issues.

Therefore, all those in favor of observing Greece maintaining its eurozone status should be under no illusions.

The political mix might go through certain changes, Greece might make progress in terms of growth and the countrys debt could be reduced considerably.

In order for all of this to materialize, however, Greece will be obliged to carry on wearing the straitjacket of strict supervision for a very long time.

Those who imagine that it is feasible to have your cake and eat it ought to stop fooling themselves and, more importantly, fooling the Greek people.

Greece without inspections will be a country outside the eurozone area.

It will be a country which might not wear a straitjacket, but it will find itself inside a madhouse of isolation and total collapse.

ekathimerini.com , Tuesday Jan 28, 2014 (22:12)  
The big picture
Get your facts straight
New weapons of diplomacy
Oblivious to change
Environment Ministry to reconsider controversial bill
The government over the weekend appeared to backpedal on proposed amendments widely seen as compromising legislation protecting Greek forests as well as Plaka, Athenss old quarter. The bill...
Corfu to host countrys first hydroplane strip
Merchant Marine Minister Miltiades Varvitsiotis and Deputy Infrastructure and Transport Minister Michalis Papadopoulos have signed a decision paving the way for the countrys first hydroplan...
Inside News
Workers rush to get early retirement
Nine out of 10 workers who retired in the last four months who had belonged to the former special funds of banks and state corporations that have now been incorporated in the Social Security...
Piraeus Containter Terminal goes from strength to strength
Piraeus Container Terminal, the local subsidiary of Chinese giant Cosco Pacific, is expected to handle a total of over 3 million containers in the January-December period of this year. The J...
Inside Business
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Environment Ministry to reconsider controversial bill
2. Corfu to host countrys first hydroplane strip
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Police gets new communications system
5. Most Greeks say they recycle daily
6. Probe into revenues of 2 mln euros in Halkidiki municipality
more news
Today
This Week
1. The big picture
2. Get your facts straight
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Environment Ministry to reconsider controversial bill
5. Changes on E9 property declarations possible until end-year
6. Police gets new communications system
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Europe's drama in Greece needs final act to avoid tragedy
6. High stakes
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.