Need for consensus

The economic environment in Europe is becoming increasingly unstable.

The crisis in Italy, with a power vacuum raising the specter of further political upheaval, is sure to have very significant repercussions, both economic and political, in Europe and beyond. That is all but inevitable.

With Greece preparing to emerge from its third international bailout this summer, it will have to display great caution as this political and economic drama plays out on the European stage.

Hasty decisions and moves by Greek politicians as well as the government’s plans to tap the international capital markets in the coming months could very easily lead to fatal mistakes that could carry a very heavy cost for the Greek economy and for society at large.

It is extremely important that those in power carefully weigh up their moves and demonstrate prudence in their decisions at this very critical time.