Risking the country’s credibility

Some politicians are looking for an excuse to delay or cancel the tough decisions ahead — decisions which are necessary if Greece really wishes to meet the commitments it has agreed to with its foreign creditors, particularly in the wake of July?s eurozone summit in Brussels.

These politicians are naturally trying to shun any political cost and return to business-as-usual mode. Such political opportunism, of course, will only invite fresh doubts over the debt-ridden country?s credibility.

No one should allow ongoing speculation over the issuing of Eurobonds to mislead them into thinking that their introduction would present Greece with an easy way out of its troubles.

If Greece fails to make good on its promises, it will reinforce its image as a ?special case? compared to Italy and Spain — hence providing ammunition to those critics who deem that the Greek problem cannot be solved for the reason that Greece never belonged among the core of European nations in the first place.