Green shoots of optimism

Small signs of improvement in the local economy have been detected lately.

Despite heavy tax hikes and the major issue of the lack of liquidity, some preliminary data on the month of November point to slight rises in revenues in certain sectors.

It is common knowledge, of course, that the overall state of the market is mainly connected to the mood of public opinion. The temporary sense of stability and seriousness brought about by Lucas Papademos becoming prime minister following the sensational meltdown of the country?s political system has played a considerable role in this case.

Another factor contributing to this momentary sense of calm is the fact that the Greek capital?s center, similarly to other major cities, recently returned to some kind of normality.

Clearly the problems facing the economy are serious and profound, yet some cautious optimism is justified provided that the major issue of liquidity is solved and the country avoids chaos and further risky situations.