For better or for worse, the facts are fact and they cannot be disputed.
In the Greek case, after almost five years of state expenses being cut and taxes being raised, public finances have reached a balance and we can not say that we are not creating any new primary deficits, but on the contrary, we are accumulating surpluses.
This development has been confirmed, it is a fact, it cannot be disputed. And perhaps today it will be confirmed in an official capacity at the Eurogroup that is coincidently taking place in Athens.
Additionally, the Greek debt is transnational. About 80% of it is owed to European states; not private individuals, nor can it traded or negotiated.
It is, in other words, a defensive debt, which cannot create any aggression and on the contrary, the payment can be negotiated and prolonged, the interest rate reduced, thus making the servicing of the debt easy for the country and the people.
This is a real fact, which cannot be disputed.
Likewise, the recapitalization of the Banks does not require new loans, but rather can be covered by private investors who are willing to place their funds in the Greek banks.
It must be said that thanks to the people’s sacrifices, Greece is gradually being unbound from foreign funds and is starting to create the conditions to exit the great financial crisis.
That is also a real fact.
That is why we need to honor it, not doubt it.
Antonis Karakousis
