Is PASOK strong enough?
The stability program unveiled yesterday by the Ministry of Finance contains a number of very positive points, but what we don’t know is whether the steps to be taken by the government will be enough to have a real impact and offset the effects of the crisis. So far, the signs do not bode well and everyone is waiting to see whether the government will be able to implement the cutbacks in state expenditure and abolish the privileges that go with certain jobs fast enough and effectively enough to convince the markets before Greece is forced to go down the road of extensive borrowing. Right now the country is facing a double challenge: First it needs to regain the credibility it lost thanks to the practices of previous administrations and, secondly, the government needs to rise above negative reactions from the old guard in the PASOK party and pressure from union groups, both of which have hampered it in imposing even the most modest reforms. Ultimately, what it boils down to is whether the government will come through, because the measures it adopts within the next few weeks will determine the future of the country.