Saturday, September 25, 2010

WHY THE SPECTRE OF DEFAULT JUST REFUSES TO GO AWAY

 The following contribution was authored by Jens Bastian, senior economic research fellow for South Eastern Europe at ELIAMEP (Hellenic Foundation for European & Foreign Policy) in Athens, Greece.
The reform momentum established over the course of the past months is impressive, but just the beginning of a long process that will have to prevail against the odds and doomsday predictions for many years to come. Greece is just at the beginning of a reform trajectory that is currently seeking to stabilise the situation while simultaneously moving in the direction of sustainable Any slippage in this process or declining political determination will immediately be registered by those who only associate Greece with a failed economy and forecast D-day approaching. It is still in Greece's hands and in cooperation with the troika to challenge these assumptions and predictions. Whether they can be proven wrong is an even bigger challenge!"


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