There is no margin of error
Beginning tomorrow morning Greece will have to be governed within a strictly defined framework. While the debt issue has been taken care of, so to speak, we now have the responsibility of making ends meet by balancing our spending with revenues.
There should be no illusions that this will be an easy task. The government has to realize that, in its current shape, it is unfit to accomplish the immensely difficult task that lies ahead. This has become clear in the last two years and now there is absolutely no margin for error, as the possibility of being kicked out of the eurozone is not entirely unlikely.
The main opposition party would be well advised to abandon the fairy tale of a renegotiation of Greece?s lending terms, which, for better or for worse, is not an option, as demonstrated in the case of Italy. For any given government the numbers and the ability to influence fiscal policy are predetermined, whether we like it or not. Unless, of course, we adopt the advice of those who wish to see Greece return to the drachma.
