«The Greek economy is growing, and after a lengthy period of objections, Tsipras is implementing the adjustment programme, because that is the only way that he can free his country from loans and lead it back to the markets,» writes the German daily Handelsblatt’s veteran correspondent Gerd Hohler.
The article underlines that a fresh debate over Grexit will hurt the euro and not help Greece.
Noting that outgoing German finance minister was like a bogeyman for many Greeks, the article suggests that his potential successor, Free Democrats’ leader Christian Lindner, may be an unpleasant surprise, as he has linked debt restructuring for Greece to the country’s exit from the eurozone.
The author notes that the debate launched by Lindner is dangerous, as neither Greece’s creditors nor its government
are talking about a classic haircut, but are rather eyeing an extension of the repayment periods and lower interest rates, so as to substantially reduce the debt-to-GDP ratio.
Hohler notes that during the memorandum era, which has hardly been a string of successes, Greece slid into a longer and deeper recession, while Greek governments dragged their feet on structural reforms that could help to spur growth.