Editorial: Painful but necessary agreement
The welcoming of the new Greek proposal at the Eurogroup finally paves the way for the completion of the agreement with the…
The welcoming of the new Greek proposal at the Eurogroup finally paves the way for the completion of the agreement with the creditors and the return of the country and economy to normality. The Prime Minister assumed the heavy cost, to move on from a pointless negotiation process and put a comprehensive but painful reform package on the table, which cover the demands of the Europeans and – in part – the IMF.
The next few days will be decisive for the completion of the agreement, which will allow the country’s regular financing and contribute decisively towards ending the uncertainty which has plagued the economy and the people over the past few months. The truly heavy cost of the agreement and possible internal reactions it may cause must not and cannot hinder its completion. The constant outflow of bank deposits that we experienced in the past few days was only a small sample of what could happen if the negotiation does not conclude as soon as possible.
As it turned out, after nearly five months wasted in an endless arm-wrestling match with our partners, the government’s negotiation position did not improve, but rather the cost of the agreement increased. Taxpayers and businesses will be called upon to pay much more than their fair share for the country to return to normality and remain in the Eurozone. However it must be clear that any other choice would be catastrophic.
It also clear that the extent of consolidation that Greece will carry out necessitates greater bravery and solidarity from our partners. Both in the necessary debt settlement and the provision of growth aid, which will mediate some of the impact of the measures which the government is forced to take.
It is the duty of all the other political forces to support an agreement that will ensure the country’s position in the heart of Europe. That is what is important today that is what the majority of the people demand. The short-term political considerations, criticism and sharing of responsibilities must give way to a minimum, at the very least, national consensus, because everybody must understand that the country’s salvation supercedes everything.