The results of the first vote in the Presidential election clearly did not excite those who came up with speeding up the relevant procedures.
On the contrary, the results highlighted the problems of the attempt. The second vote on the 23rd of December is not expected to yield a better result that may created the circumstances and conditions for a successful result in the third vote on the 29th of December.
As it seems, the chances of electing a new President of the Republic are greatly reduced. Neither can the fabled political initiatives be expressed with ease and prove to be effective.
Barring the unexpected, the country will quickly head to national elections and according to the public administration, they may take place on the 25th of January.
A large number of independent MPs, as well as all f the opposition parties, are trapped in the anti-bailout logic that does not allow any consensus or considerations, other than going to elections.
The problem is that we cannot be so carefree about going to elections.
In the meantime, during the election campaign period, it is likely that the country will be under pressure and its ability to respond to its obligations will be cast in doubt. Above all though, this may affect the people’s behavior, thus repeating phenomena like the double elections of 2012.
Without a doubt, after the very likely failure to elect a new President, difficult election campaign days will follow and everyone ought to be prepared.
And first of all the custodians of financial stability; the Bank of Greece which has an obligation to warn and to protect the stability of the banking system by averting panic situations, the State Accounting Office which must collect revenue and monitor expenses so that the budget is not derailed and the Public Debt Management Agency which must secure the funding needs for as long as possible, since we do not know when we will return to normalcy.
As we mentioned before, the days to come will not be easy. However, we have the experience of managing extraordinary circumstances, the country and the economy is in a better position than in 2012 and the people are more mature, aware that the panic is damaging, offering no benefits.
In any case we must be vigilant. It would be a shame to waste five years of efforts and sacrifices.
Antonis Karakousis
