Pain and honesty

At some point, reason will have to prevail. Greece’s conservative-led government has proposed a painful albeit honest compromise with the troika of foreign lenders. Some of the measures it has come up with will take a hefty political toll on the coalition for they are bound to affect sectors that have benefited from the progress that has been achieved in the economy in recent months and which prompted them to take a rather favorable view of the coalition partners.

In any case, the government has decided to act responsibly. It’s time that troika officials took a similar stance, because their recent posturing is bringing Greece closer to an early election and the unintended consequences which that might entail.

If that is what they are really after, instead of wrapping up the ongoing negotiations, then they should have said so from the start and assumed the responsibility for their actions.