No one can be above the law

One of the biggest and most insidious problems that has led Greece to its current state is without doubt the manner in which laws are flouted and powerful or well-known people are allowed to enjoy impunity, openly and provocatively.

Recent events in the United Kingdom, where Rupert Murdoch closed down the News of the World newspaper and was forced to withdraw his bid for the BSkyB satellite platform, reveal the wisdom of a system that does not hesitate, ultimately, to apply the law, however mighty and influential the wrongdoer may be.

In Greece, supervisory authorities like the Capital Market Commission and the Bank of Greece have failed in their role.

It should come as no surprise therefore that there are a number of scandalous cases still pending, which should have been nipped in the bud.

These supervisory mechanisms need to restore their credibility and the law must stop being pushed aside if this country is ever going to get on the right path.