Editorial: Normalcy

16:00 17/7/2019 - Πηγή: Τα Νεα

Our country managed to borrow at an interest rate that just a few weeks ago would have seemed like a midsummer night’s dream.

The 1.9 percent interest rate on the seven-year bond is reminiscent of a bygone era when the Greek economy appeared robust, perhaps more robust than it actually was.

There is only one interpretation for this. The economy is beginning to regain a substantial portion of the trust

that it lost over the last decade.

Investors are not afraid that they will lose their money as was evidenced by the great demand for the seven-year bond.

International media such as Bloomberg correctly note that normalcy is returning to our country and that the change of government contributed greatly to improving the climate.

The previous government was the last of the ten-year crisis and it contributed to dragging it out even longer when it said the markets would dance to its drumbeat.

It had threatened to turn Europe into another Kougi, which was blown up in the Greek Revolution, and the Tsipras government’s supposed proud negotiations with creditors ended in a humiliating retreat and complete surrender.

For this government to usher in an era of normalcy, it must remain firmly devoted to a path of reforms and seriousness.

Any divergence from that path will undermine above all the efforts and sacrifices that have been made by Greek citizens to transcend a crisis for which they bear almost no responsibility.

The government owes it to them and not to the markets to rise to the occasion.