A step too far

It was hardly a surprise. Any reasonable observer expected that the ruling leftists would pledge excessive handouts to woo voters. But this time the government has gone a step too far. Its officials are prepared to not only herald, but actually legislate measures that go well beyond the government’s term (through 2022) so it can then accuse its successors of failing to fulfill these measures.

Anyone who can see beyond the pre-election fog ought to ask: How did the extra fiscal space, advertised by the administration’s economic policymakers, come about when the large surplus targets remain unchanged?

How can one justify the triumphalism over the purported overperformance of the Greek economy when the growth rate remains stagnant? The so-called fiscal space is the result of excessive taxation and overperformance is the product of exhaustion.

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