Editorial: Credibility and stability…
The agreement for the TAP natural gas pipeline, which will pass through Greece, is promising. Just like the intention of the Chinese to expand their investments at the port of Piraeus. All that is needed of course if for the projects to go along as planned and announced and not to get caught up in geopolitical or other types of competitions, which our country is unable to affect. Despite the great expectations, the foreign investments and privatizations were mostly unsuccessful: the planning was rushed, impeded by political and bureaucratic inefficiencies or subverted by the climate of political insecurity in Greece.
Restoring a climate of political stability and trust is essential to attract foreign investments that are necessary to help turn the economy around. This goal is closely related to the credibility and efficiency of the government. The government must convince everyone that it can see through the much needed reforms, as well as fulfilling its obligations towards its lenders. Unfortunately there is no room for delays.
The new government mustn’t rely on the extra time seemingly granted by the Europeans. Over the next few months the new cabinet must prove that it is able and determined to complete everything that was blocked by bureaucratic or political inefficiencies. The Prime Minister and Mr. Venizelos who took it upon themselves to lead the country out of the crisis must make this perfect clear to all ministers.