The government may be celebrating over the agreement reached at Tuesday’s Eurogroup – claiming that it will put an end to the uncertainty and recession, while creating the conditions for a return to the markets – however the reality is that Greece will remain in a grey zone of uncertain prospects. In essence the compromise between Schäuble and the IMF gives us some breathing space, but it is barely keeping us alive.
The disbursement of financial aid, as well as the debt settlement, will take place in installments. It remains to be seen what is required in the new bailout so that tranches are paid out, which will in turn be used to service the debt and pay off some of the arrears. It is clear that despite the government abandoning its promises and empty threats, while approving a series of particularly painful measures, the Europeans and the IMF still do not trust it. That is why they are demanding terms that would be unbearable for any democratic country, which in turn further fuels the Euroscepticism that is on the rise in our country in recent years.
However, abandoning the anti-bailout flag and accepting the European path as the only solution may be the start of the country’s return to normality. The first condition though is that the agreement will be implemented and not turn into a battlefield of inter-party balances and games. The second condition ahs to do with society’s endurance.
The question is whether the economy, businesses and workers will manage the new tax measures and cuts, whether the ambitious fiscal targets for primary surpluses and addressing the recession will be achieved. Without a national recovery plan, without domestic and foreign investments, the threat of being left barely alive and constantly on the verge of a bankruptcy is visible. We lost many opportunities during the crisis due to procrastination from the political system. Now we have one more opportunity, unless we waste it due to obsessions and managerial incompetence…
TO VIMA
