Compounded damage
Every day that goes by without a conclusion to the pending bailout review by Greece’s creditors takes a greater toll on the beleaguered country.
Yet the leftist-led government – trapped by its own ideology and the need to maintain the delicate balance that keeps the party together – continues to go back and forth, like a pendulum.
In the morning, it decides that it’s time to bite the bullet and agree to the measures being demanded, announcing a breakthrough. By nightfall, it has changed its mind completely and sealed its lips.
The government must understand that any more delays will result in damage that may be very difficult to reverse. It needs to make a decision, particularly as it has already agreed to some of the most painful of the measures, such as reducing the tax-free threshold and further pension cuts.
