Editorial: The painful divorce from the troika
The mess in the negotiations with the troika, the indecision over the mission’s return to Athens, the 48-hour ultimatums and…
The mess in the negotiations with the troika, the indecision over the mission’s return to Athens, the 48-hour ultimatums and persistent rumors of disagreements paint a problematic, yet expected picture. The management ending a relationship, or even the possibility of ending a relationship, is usually a painful experience, often with traumatic repercussions – more so where there a few hundred billions at steak.
It is unavoidable to at extent for there to be anxiety and conflicting strategies in coming to a mutually accepted compromise. The troika demands for the budget gape of 2015 seem to be more of a smokescreen in order to secure other guarantees regarding the state operation or for certain structural reforms. After all, it would be absurd for them to claim that the 2015 budget is the number one problem, when they have failed in their so-far predictions.
It is just as obvious though that there are delays and conflicting opinions on managing certain critical matters on the government’s side. This is illustrated by the retractions in the installment settlement and the ENFIA and we can see it in the attacks against Mr. Hardouvelis for his tactics.
Beyond the different approaches though, what should be clear – at least to the government – is that this prolongation of negotiations is not towards the country’s benefit. Given the tight deadlines regarding the review, neither society nor the economy can endure a bout of uncertainty. It is imperative that the troika review be complete as soon as possible, so that our creditors may begin implementing their commitment for a debt settlement.
Given the fact that there is some political uncertainty regarding the Presidential election, it is rather clear that the country does not need any more delays. Provided there is the necessary political will on both sides then any differences can be addressed and the gaps may be bridged. Especially for the government that – justifiably – wishes to complete this relationship, it must clarify its stance and outstanding commitments if it truly wants to maintain the initiative for the next day.