The A-List
The focus is back on the debt crisis in Greece where a three party
governing coalition is struggling to come up with a new economic reform
programme that can secure parliamentary approval. Meanwhile governments,
such as Germany’s, that extend support to Athens, are considering how
best to approach their own legislatures with Greece’s request for even
more aid.
We expect the various European officials to find a way to sort all
this out over the next few weeks – not because they believe in the
outright merit of what they are doing but because they fear the
alternatives. But that means lots of unsatisfactory and unsustainable
compromises. And by failing to address the underlying issues, yet
another Greek rescue will stand no greater chance of success than
previous ones. Meanwhile the trust of Greek citizens in the credibility
of government and institutions will erode further.
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