With the government banking on securing a “political decision”, that is a sympathetic understanding of Greek people’s dire situation, at next Monday’s Eurogroup – as the conclusion of the bailout review is now seemingly out of reach – the prospect of further austerity as demanded by the International Monetary Fund remains the biggest thorn in its side eKathimerini reports.
Athens’s biggest fear is the very real possibility that the IMF and Berlin will strike a deal behind closed doors, demanding more measures.
This possibility was highlighted in comments made by finance minister Tsakalotos Monday, that the government cannot accept “compromise deals made between the IMF and the European countries on the back of Greece.”
In reality, despite the defiant talk Athens will have very little option but accept whatever deal the lenders offer as it is committed to remain in the Eurozone ‘at any cost’. seeking political solutions in the past from Berlin, Washington or Moscow has not led to anything more than some meaningless soothing words and a stern referral to the implementation of agreed ‘reforms’.
Athens’s case for debt relief received a boost after senior European officials made vague comments about the need foe a solution. European Central Bank executive board member Benoit Coeure, who was in Athens on Monday, said the ECB was “looking forward to a solution” and “all stakeholders in the Greek adjustment program must realize that there are serious concerns about the sustainability of the Greek public debt.” ECB chief Mario Draghi, for his part, said that a solution to the Greek debt issue would be in the interest of the eurozone.
Prime Minister Tsipras who met with EU Finance Commissioner Pierre Moscovici Monday, said it was time for “brave decisions” by all parties involved, while the French official insisted that “we must definitely begin discussions on the debt.”
And a solution is indeed needed and it will be found in one of the next eurogroup meetings. Except that the solution that Mr Shaeuble and the rest of the Eurogroup has in mind is not necessarily one that will improve the life of the beleaguered Greek citizens.
