The oversubscription and more-or-less expected interest rate in Greece’s return to the capital markets after four years certify in the best possible way that the climate in our country is changing, it is changing rapidly. Sweden, which also went out to the markets the same day, was unable to collect the sum it was after.
This change of climate and expectations did not occur without sacrifices. The achievement of the primary surplus that paved the way for the exit was achieved with serious cutbacks, with a disproportionate tax burden for a huge section of Greek society and an unprecedented unemployment rate.
At a huge social and political cost Greece honored its commitments towards our creditors. Despite the delays, the Greek side was able to rise up to the constant pressure from the troika and to overcome its often contradictory predictions.
It is not just us though who have commitments. The Europeans also have commitments they must honor. Since the summit at the end of 2012, they have undertaken the task of examining all possible solution for decreasing the Greek debt, should we achieve a primary surplus. This happened not only a lot sooner than expected, but we also managed to exit to the international markets.
The German Chancellor visiting Athens is also obliged to honor her commitments. Greece is not Europe’s black sheep anymore, like the populist German media likes to shout, but by progressing it has managed to facilitate Europe as a whole, by exiting the crisis.
Mrs. Merkel is obligated to honor her commitment and publicly state that she will carry out a settlement of the Greek debt. If she does not, the Prime Minister has the ability and duty to remind her.
Greece is not demanding anything absurd; we now have the right to demand, just like our partners demanded we conformed to our mutual obligations. It is the only just way for the common European dream to regain its lost trust, to convince the people who suffer today, that their sacrifices are worth it for a better tomorrow.
TO VIMA
