Reality bites. George Papandreou’s administration has realized the obvious: Taxes can only be raised by a certain level before they begin to take a toll on economic growth; there can be no development when a government treats free market entrepreneurship as an enemy; and it is extremely unfair to slash wages and pensions without curbing unchecked spending in the public sector. The question is whether the government will have the courage to backpedal from some of the unrealistic pledges made in pre-election period. Time is running out. People will refuse to make necessary sacrifices if they feel their efforts are going to waste. The truth of the matter is that a failure of the PASOK government will thrust Greece into a major adventure. Acknowledging one’s mistakes in politics can be courageous, as long as it comes with an honest attempt to correct them.