Beware of dangerous pledges

The danger of promises made by political parties and politicians during the current pre-election period taking on irrational dimensions is clearly visible.

A typical example in this case is the vague yet dangerous pledges regarding the haircut on Greek private debt. The local banking system has reached a crucial stage and this, among other things, is due to the handling of certain issues by former Development Minister Louka Katseli.

The banking system cannot bear any more uncertainty or games played by certain politicians at the expense of the economy?s stability. If this is a case of some corrupt businessmen hoping in this way to legalize a haircut on their own exorbitant loans, politicians ought to be fully aware of the kind of monster they are creating.

While?s today harsh reality calls for arrangements and readjustment of loans, a widespread adoption of the ?We won?t pay? rationale would be disastrous for the country.

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