Thursday, September 17, 2015

A Bloomberg View editorial "Europe's Best Hope for Greece?" published yesterday (16.9), holds that regardless if Tsipras’ Syriza party or Meimarakis’ New Democracy party wins Sunday's parliamentary elections in Greece, "the result will be unsatisfying unless both Greek and European leaders can get with a simple, straightforward programme": "Either Greeks accept the painful reforms necessary to keep the country in the euro -- or they reject them, return to their currency and take full control of their economy".

According to Bloomberg's Editorial Board, Tsipras’ victory looks, paradoxically, as Europe’s most desirable outcome to offer a period of stability. Regrettably, Tsipras is right to rule out Meimarakis’ proposal for a coalition government with their parties, which could empower fringe parties -such as the neo-Nazi Golden Dawn- as sole champions for opposition to the bailout. And Berlin and Paris calculate that the Syriza party in opposition would abandon its already lukewarm support of the bailout, whereas the New Democracy party would likely still support it.

However, regardless of the elections result there is a faint hope for stability. What really Greece and Europe need most is clarity about their future, the editorial concludes.