Keeping a cool head

Many observing recent developments are lashing out against the Greek government and demanding that it follow the example of the Cypriot Parliament, which rejected the troika’s proposal to tax bank deposits.

There is nothing surprising about the surge of populism at a time when society is being sorely tested and the country’s creditors are continuing to pressure the Greek people in such a brutal way. But situations like this require a cool head, pragmatism and a sense of responsibility. No one can know how the Cyprus situation will develop, so there are no foregone conclusions.

There are probably some in Greece who would like to see a crisis that would force banks to close down for days on end and bring the country to ruin. But the Greek government has fought for stability and succeeded in averting the worst. And it has done so by looking at the facts and not engaging in fantastical scenarios that would end with Greece outside the eurozone.

Playing with big words and appealing to populist sentiment are not always in the nation’s best interest.

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