Hon­est an­swers are needed

Kathimerini English - - Front Page -

The coun­try’s Fi­nance Min­istry of­fi­cials have a duty to ex­plain to mem­bers of Par­lia­ment, as well as the pub­lic, where the first mem­o­ran­dum Greece signed with its in­ter­na­tional cred­i­tors – the Euro­pean Union, the Euro­pean Cen­tral Band and the In­ter­na­tional Mon­e­tary Fund – went wrong, and, more im­por­tantly, how it went wrong when it came to its im­ple­men­ta­tion. The an­swers it pro­vides have to be hon­est and suc­cinct, and they also have to be ac­com­pa­nied by self-ex­am­i­na­tion and self-crit­i­cism. Fail­ure by the state mech­a­nism to reach tax rev­enue tar­gets and the boomerang ef­fect of high tax­a­tion are two ob­vi­ous ex­am­ples that need proper ex­plain­ing. No par­lia­men­tar­ian, or Greek cit­i­zen for that mat­ter, will be ready to sup­port a new bailout agree­ment un­less they first hear what went wrong the first time around and what will be done this time in or­der to be con­vinced that the way fi­nan­cial pol­icy is im­posed and im­ple­mented will change dra­mat­i­cally.

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