The hour of truth is upon us and Greece has to swallow a very bitter pill indeed. There is no other way out, pressure from the country?s creditors is mounting and the clock is ticking down to the final minutes. Delay tactics cannot lead anywhere and nothing will change in regard to the dictates of the situation. One fact to stand by is that Greece has no money and is obliged to depend on the 130 billion euros, if not more, of the new rescue deal if it has any chance of survival. Of course this is only the case if it wishes to remain in the eurozone instead of becoming a pariah state at the mercy of profiteers.
The sailing ahead will not be smooth, but this is nothing new for anyone who has dared look at reality straight on from the start of the crisis. The model of rampant consumption, spearheaded by a state that borrowed and threw money around, reached its end date a long time ago. And the lifestyle of the average Greek can no longer be maintained at the high levels to which we had become accustomed. The problem is that we did not expect this to happen so violently, so fast and in such an unjust manner. Political inadequacy, the abject ineptitude of the public administration and denial soon made a lousy situation much worse.
Unfortunately, the country?s political class — which includes not just politicians but those in civic life more generally as well — did not espouse the call for measures and reforms that could have shaped this monstrosity we call the Greek state. From the very first, the troika was viewed with hostility, as the ogre that victimizes. The same continues to be the case today, but this kind of mentality will not allow us to cope with the challenges ahead, even if we do get our next bailout tranche.
Sure, questioning the efficacy of the troika?s rescue recipe is anyone?s right, but changing it requires the efforts of very specific people. Either way, for any rescue plan to work you need to have a solid state backing it, and this is something that can only be achieved within the eurozone.
Under the circumstances, the behavior of the political leaders in the unity government does not inspire confidence. We have no certainty the new memorandum will make it through Parliament because there are too many MPs who oppose the proposed changes. Meanwhile, the prospect of snap polls is encouraging these negative trends, while the projected strengthening of leftist parties in the case of early elections, will make the implementation of any memorandum even harder. Given these challenges, what?s the rush to go to the polls?