Safeguarding the country
The idea of a post-bailout precautionary credit line and its advocates have come under a lot of criticism in recent months.
The signs of turbulence in the bond markets were evident long ago, but the governing officials who supported the political narrative of a “clean exit” from the bailout programs insisted on turning a blind eye to the risks for reasons of political expedience.
To be sure, prolonging the argument is of no avail. Instead, we must seek for ways to safeguard the country at a time when the international environment is becoming more dangerous and unpredictable.
