Costly fan­tasies

Kathimerini English - - Front Page -

An­a­lysts who warned that the Greek econ­omy was in danger of en­ter­ing a fresh pe­riod of de­cline have been proved right. Be­ing com­pletely out of touch with the real econ­omy, the coun­try’s left­ist-led coali­tion deemed it could keep rais­ing taxes for­ever and get away with it. At the same time, it halted pay­ments by the state to third par­ties in the name of yet another pur­port­edly bold ne­go­ti­a­tion strat­egy. Re­al­ity struck back hard against the gov­ern­ment’s ir­re­spon­si­ble fan­tasies yes­ter­day as re­vised fig­ures by the coun­try’s sta­tis­tics ser­vice showed the Greek econ­omy con­tracted from Oc­to­ber to De­cem­ber af­ter two quar­ters of growth. De­spite all that, rul­ing of­fi­cials pre­fer to put their ide­o­log­i­cal ob­ses­sions and par­ti­san con­cerns be­fore the com­mon good. And so they keep de­lay­ing the com­ple­tion of the sec­ond bailout re­view de­spite know­ing the im­pact that this will have on the mar­kets and the banks un­til May.

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