Greece up against the ropes
The yawning north-south divide is threatening the future of the euro. We are witnessing tough negotiations between the two sides, but it is far from certain that any compromise will satisfy the markets.
In any case, Greece is up against the ropes. No country appears willing to sympathize with Athens or offer it some form of support.
There is only one way to avert the peril of a euro exit and make sure the country finds a place in the nascent European environment: The government of Antonis Samaras has to perform miracles in the coming two or three months.
A very small group of ministers has the knowledge, the strength and the motivation to do this job. But they have to be protected from the undying breed of partisan bureaucrats, unionists and populist types who are against any form of change and who would like us, if possible, to fool our Western allies. The problem is that the patience of our European peers is running out. This time it will take actions, not words, to convince them that it’s worth spending more time and energy on cash-strapped Greece.