A promise is a promise

The teleconference which brought German Chancellor Angela Merkel, French President Nicolas Sarkozy and Greek Premier George Papandreou together late Wednesday was the culmination of pressure exerted on the Greek government to implement all that it has pledged in order for the country not to diverge from its set targets and for the July 21 rescue plan to move ahead.

According to sources, the Greek prime minister did not hesitate, once again, to promise that Greece will implement all the necessary measures.

Given our experience so far, however, there is a tremendous discrepancy between what Athens says and what it actually does.

As a result, expectations are rather restrained. Let?s hope that Papandreou and his ministers are fully aware of exactly how critical the situation is.

If, however, they believe that perpetual support is ensured because of American and European fears, the consequences will prove to be disastrous.