The leaders of Europe have shown that they have the maturity and the sense of responsibility to act in the best interest of the eurozone, if only in the final hour. This is the good news that came from the eurozone leaders? summit in Brussels, but it should not be viewed as cause for undue optimism in Athens.
Europe has shown that it is ready to accept that a small core of the stronger countries will prop up the system in exchange for strict fiscal discipline. The question is, can Greece deliver on the latter?
Greece has plenty of capable people in the private sector who can play a pivotal role in rebooting the ailing economy. Where the Europeans are skeptical is over whether the country?s politicians and its public administration can make the change. If these continue to function as they have, the plan for Greece?s revival will fail and at some point our peers, in the north and in the south, will wash their hands of us.
If Greece wants to succeed it must start making the change today, because there is absolutely no more time left for political hesitation and partisan calculations.