N. Koulousios: The Greek debt crisis – Where do we stand and what’s next to come

However promising this may seem, once again we are witnessing a significant divide among Greece’s lenders on the issue of debt relief. The last time the troika promised the Greeks to open a discussion on debt relief was when Samaras was in power, in 2012. At that time, Greece’s lenders promised Samaras that if he manages to achieve primary budget surplus for Greece, then they would discuss measures for debt relief. Samaras did manage to deliver primary surplus the following years, something that came at a great cost for the Greek economy, but, the Europeans never kept their promise.  The main opponent of debt relief was, and still is, Germany and, particularly, Wolfgang Schauble. Debt relief is not good for German elections. If Tsipras doesn’t get what was promised to him by the Europeans in the summer of 2015, then it is likely that he will call for snap elections, putting the blame on Germany and the promises that were made but not kept. How many elections can the continent take at this point? And what good could they bring in a Europe already torn by nationalism?

Bron: Hellas Pindakaas 
Photographer Credit: Milos Bicanski/Getty Images

Comments are closed.