Editorial: Mr. Draghi and our election campaign games
The meeting scheduled for tomorrow at the European Central bank, where by all indications a decision will be made on the…
The meeting scheduled for tomorrow at the European Central bank, where by all indications a decision will be made on the much-debated quantitative easing, is a rather important development for Greece as a whole and Greece in particular.
It is a first step, a shy step for many that is stirring up many reactions in the dominant German elite, in order to liberate resources for the real economy. Especially in the case of the South, where countries have been plagued by the crisis and unbearable debt, the quantitative easing is tool that will help them reconstruct their economies, with greater security that what the markets can offer.
This first important step, which Greece had been aiming for, has been caught up in the conflict between the political forces, instead of being their common ground. Instead of trying to ensure that our country remains within the program , instead of striving for the best possible funding from the ECB, they focus on pointless and dangerous clashes and speculation, even anticipating our exclusion in order to blame one another.
The induction of Greece in the ECB’s bond purchasing program is decisive because it will secure the necessary liquidity and because it will facilitate the long-term goal of smoothly returning to the markets. Any other outcome will be a strategic defeat, as Greece will essentially be classed as a second rate Eurozone member, with all of the possible consequences this entails. Rather than waste themselves on election campaign games, the pro-Europe forces must try their best to ensure that the country is included in the program that Mr. Draghi will announce.