No more pie in the sky
Greece’s European Union partners and international lenders seem to acknowledge the mammoth effort being made by the government as well as the people to streamline the national economy. As a result, all sides are close to agreeing on a rescue plan that will tackle the huge debt and sky-high interest rates. That does not mean to say that the country can relax its fiscal policy or the implementation of the necessary structural reforms which have been delayed for years. Quite the opposite, in fact, as the EU is expected to become more demanding of the problematic countries. This is something that we must get used to for now and the coming years. Otherwise the country risks sliding into populism and violence – a dangerous mixture that will push us deeper into turmoil and bankruptcy. Our politicians must be honest with voters about what they should expect in the years ahead and not create false expectations about eurobonds and other magical solutions which simply don’t exist.
