Thursday, March 26, 2015

Greece can no longer afford to fight the wrong battle

Two months have passed since the new, left-wing Greek government of Alexis Tsipras was elected to power and it seems to be fighting the wrong battle. A large part of its time has been wasted in long negotiations over names, meeting locations and review obligations, while extremely important, urgent measures to get the economy going are pending.
Alexis Tsipras won the Greek electorate promising: 1) to abolish the Troika of foreign creditors (European Commission, European Central Bank, International Monetary Fund) and the “memorandum” between Greece and its creditors and get a big (70%) “haircut” of the country’s  foreign debt, while staying in the Eurozone; 2) to overcome Greece’s “humanitarian crisis”; and 3) to put the economy back on a growth path.
By George Papapavlou*

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