A positive first accord

The fact that an accord was reached – at least in principle – between the Eurogroup of euro-area finance ministers and the Greek government at an emergency meeting in Brussels on Friday is definitely a positive outcome.

In the end, reality forced the newly elected Greek government to get its head out of the clouds and it saw just how tight are the margins in which the administration will be forced to work so that the country does face the threat of bankruptcy.

Debates about whether Monday’s Eurogroup meeting should be defined as a victory for the Greek government or a complete about-turn by Prime Minister Alexis Tsipras and his finance team, is not appropriate at this time. In fact, it can prove rather damaging.

Now is the time for everyone to act in a responsible manner and for every single person to fight hard and ensure that everything that has been so painstakingly achieved over the course of the last few years has not been in vain.