Let’s not be fooled:
The crucial element in the negotiation is not just the reforms required by our partners to conclude the program. The critical factor is to break the vicious cycle of this crisis. And this can only be achieved by changing the “recipe” — by terminating tough austerity that produces recession, and combined with an effective solution for the sustainability of the debt. Because truth be told, this is the only way that the Greek economy will once again become safe for investors and markets.
Unfortunately, the proposals submitted by the institutions are clearly unrealistic, and are a step backwards compared with the common ground that was reached with great difficulties during the negotiations.
I could not imagine that the politicians–if not the technocrats–would believe that after five years of devastating austerity under the Memorandum, there would be a single Greek MP that would vote in favor of repealing the EKAS (Pensioners’ Social Solidarity Benefit) for low income pensioners and for increasing VAT by 10% on electricity.
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