Several analysts and politicians are out claiming again that Europe will soon find a comprehensive solution to the eurozone?s growing debt crisis and, as a result, Greece will have no real reason to continue with its fiscal reform program.
The champions of this global ?I won?t pay? movement are out of touch with European reality.
The uncomfortable truth is that a comprehensive solution to the debt problem will make the need for fiscal discipline greater — not smaller.
The Europeans obviously realize that Greeks can take no more taxes and appear willing to accept some modifications to the fiscal reform program.
That is one thing, but putting forward the — unfortunately popular — argument that ?they will write off our debt without us having to do much because they need us? is quite another.
Greece?s shortcomings appear greater as other countries have followed a steady course of fiscal reform, projecting a more responsible and mature image.