Two recent news items have caught my attention more than any others. The first is that Greece’s revenue fell by 20 percent compared to last year.
The second – which is connected to the first – is that the country will need an additional 38 billion euros this year to meet its obligations, according to the well-informed Financial Times (FT).
That so much extra money is needed has been admitted privately by both Finance Minister Yanis Varoufakis and Prime Minister Alexis Tsipras, according to FT.
Regardless of what promises Tsipras makes regarding a new aid package – if one is given – it will contain the appropriate terms, which certainly will not be looked upon favorably by the Greek people, who lately have been wooed with more enticing promises.
The government was elected on the basis of its promises to put an end to the memoranda and the austerity.
In that spirit, Tsipras directed Varoufakis to reject the word “extension” regarding the memoranda in the joint statement that was drafted after the recent Greece-related marathon meetings of the Eurozone countries’ finance ministers.
In any case, Tsipras has to bring together two varying things: on the one hand, he must find money so the country does not go bankrupt in March.
On the other hand, he has to pull Greece out of the vicious cycle of austerity that leads nowhere but poverty and misery.
The Greek Prime Minister, thus, must change the topic of his conversation with the Europeans. Instead of talking bridges and Nazism, he would be more effective if he talks about fighting fraud and corruption and implementing major reforms.
German Chancellor Angela Merkel has emphasized one thing several times, most recently at the White House: Greece is not doing enough to help itself. And she means in terms of reforms.
We must emphasize once again that the reforms do not only help Merkel; they primarily help Greece and its people.
Without reforms, the country is not going to be competitive and it will not be able to remain in the Eurozone.
The post Man On Wire: Wobbly Tsipras Tries To Balance Himself appeared first on The National Herald.Source: The National Herald