Reasonable premise
New developments are coming fast and hard in the Greek drama, making the plot all the more complicated.
As the governing party heads towards a rupture over whether Greece should agree to a new loan deal with creditors, one of the lenders, the International Monetary Fund, appears equally reluctant to continue its involvement in Greece.
The IMF will decide on its participation in a new Greek bailout only if it is convinced that Athens will adopt real reforms and when its partners in the eurozone agree to write off a large part of its debt.
The IMF is looking at the Greek problem from the right perspective: whatever program is agreed between Athens and Brussels will have to ensure the rebirth and sustainability of the Greek economy and this can be achieved only when the Greek government takes ownership of the necessary reforms and the lenders take some bold decisions regarding the debt pile.
Anyone refusing to work on this premise is repeating the mistakes of the past and acting against Greece’s best interest.
