After the relapse

The European Commission’s conclusions on the fiscal impact of the pre-election government handouts did not surprise anyone. What was more surprising was the silence of European authorities in the face of SYRIZA’s obvious pre-election promises. It wasn’t a big shock, as some EU officials in Brussels had come to work – despite their mission – as protectors of the Greek government.

The inconsistency of the country’s creditors, with their delayed post-election alarm over the announced handouts, is yet more proof that we should not expect outside supervision to keep the domestic political system in line. This responsibility belongs to Athens. It is our historical responsibility to avoid an economic relapse.