Room for optimism
The choices made for the new appointments at the Economy and Finance ministries in Greece’s caretaker government – which will carry the country through the snap elections on September 20 – leave some room for optimism. The deadlines outlined in the bailout agreement that Alexis Tsipras’s government signed earlier this month and the time frame for the recapitalization of Greek banks are extremely tight and must be met. Any delay would come at a heavy price and deal one more in a long series of blows to the country’s battered credibility. It is therefore crucial that people who have both connections and a good reputation in Europe have been selected to head the ministries of Economy and Finance. It would also be a very good thing if they managed to tie up as many loose ends as possible before the elections and prepare their ministries for the day after, which, if nothing else, promises to be extremely challenging.