Gloom and thoughts on political moves

By Giannis Makrigiannis

The atmosphere is extremely heavy in the Greek government, after the mediocre results of the meeting between Prime Minister George Papandreou and the German chancellor.

It confirmed the great difficulties in the attempt of Greece to secure assurances from the EU for a clear support of the Greek economy despite the fact that our country has supported the French/German plan and has made great sacrifices for fiscal consolidation.

While associates of the prime minister did not expect spectacular results, the chill that prevailed at the meeting with Merkel sent a discouraging message.

Athens is no longer even sure of the famous extension from the Troika for debt repayment, and will put everything on the table in the context of an overall solution. So, while the Greek government has long been expecting steps to be taken towards the issuing of Eurobonds and possibly of a debt repurchase on better terms, it now identifies pressure to go as far as to bankrupt the country, with Merkel too weak to encourage even the strict package with the new conditions for competitiveness of the European and the Greek economy.

In this climate, Papandreou’s associates and ministers admit that the government cannot go that way, and insist on the need for initiatives by the Prime Minister to ensure a degree of consensus in the political and social scope of the country and improve the governmental operation.

Some do not exclude the possibility of a dramatic move with the election scenario still running. They point out an interesting deviation in the interview of the Prime Minister after his meeting with Merkel about the importance of Greek people in supporting the government’s effort, adding meaningfully that the people speak primarily in one way, the ballot...