Where did it go wrong?

The country?s Finance Ministry officials have a duty to explain to members of Parliament, as well as the public, where the first memorandum Greece signed with its international creditors — the European Union, the European Central Band and the International Monetary Fund — went wrong, and, more importantly, how it went wrong when it came to its implementation.

The answers it provides have to be honest and succinct, and they also have to be accompanied by self-examination and self-criticism.

Failure by the state mechanism to reach tax revenue targets and the boomerang effect of high taxation are two obvious examples that need proper explaining.

No parliamentarian, or Greek citizen for that matter, will be ready to support a new bailout agreement unless they first hear what went wrong the first time around and what will be done this time in order to be convinced that the way financial policy is imposed and implemented will change dramatically.

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