Beware the point of no return
The fact that the country?s partners and creditors are exerting pressure for stricter measures in exchange for Greece?s next tranche of bailout money is only logical, when seen from their point of view.
This is because they firmly believe that this will reform the country and at the same time guarantee that the loans they have granted will be paid off. Surely, however, they are also aware of the fact that there is a critical point which they can?t venture beyond if they wish to avoid a major political and social meltdown.
No European wants to see Greece immersed in chaos, while everyone recognizes that the current coalition government is doing everything in its power to keep the country in the eurozone.
It is therefore a mistake for troika representatives to keep raising the bar. Instead, what these officials should do is focus on a few, absolutely vital structural changes, besides the particularly tough measures of fiscal adjustment.
Otherwise, the danger of a ?Greek accident? may rise dramatically.
