The benefit of hindsight

Irresponsible behavior comes at a high price.

Greek governments were in the habit of handing out early pensions, pensions that were much higher than the contributions toward them, without taking into account whether the pension system would remain viable.

They destroyed the country’s social security system and then, when something had to be done, they chickened out.

There were, of course, exceptions, but they were very few. However, a large portion of blame goes also to the united front of populism and group interests – a front for which SYRIZA carried the banner.

Now we have reached the inevitable point where the bill must be paid and where people must act responsibly.

The cost would have been much smaller if our politicians had behaved in a more responsible manner, both during their time in government and when in opposition. If only we knew then what we know now…