The real situation

The government insists on cultivating a narrative whereby Greece will be free of memorandums by next August.

This is a narrative that has no bearing on reality, and not just because the government itself has voted through measures that will come into effect after that date and even in 2019. It also fails to take into account the fact that there is an extremely difficult fourth review looming on the horizon and numerous messages from the lenders warning against talk of a “clean exit.”

The government had best put such scenarios aside and focus on the successful implementation of reforms – not because these are mandated by a loan agreement, but because the country needs them.