The black sheep of Europe?

It is very alarming to hear foreign officials making statements that differentiate Greece from other eurozone nations that are also facing serious debt problems.

The latest example came from the head of Europe?s rescue mechanism, the European Financial Stability Facility (EFSF), who yesterday warned that the IMF-EU program is working in Ireland and Portugal but is not yet yielding results in Greece.

Similar statements, however, regrettably reinforce the image of Greece as the black sheep among the debt-ridden nations of the eurozone.

There is no doubt that only by introducing tangible and daring measures, and by meeting the pledges made to our international creditors, can Greece turn this situation around and win back the support of its peers.

The problem, of course, is not that Greece?s image is being tainted, but that ongoing procrastination on the part of the government is providing credence to critics who want to see this country out of the eurozone in order to rescue the credibility of the common currency.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.