European economy

After eight years of protection and 289 billion loans (to be repaid by 2060), the troika has restored financial autonomy to Athens, and Tzipras has put the tie back on. There are still huge problems for the Greeks, but it is good news for Europe, which at the beginning had everything wrong, using the short arm and defending only German investments. Being under protection, nobody likes it, but the troika instrument has worked, and the Greek recovery rhythms and those who have accepted constraints, such as Spain, Ireland and Portugal, agree with this choice. It will not please sovereignism, but if a country is on the brink of the abyss the solutions are only two: either barking at the moon thinking only of the votes of the next election or resorting to the global tools made necessary by the interdependence of a world in which one sneezing in Beijing or a rally in Istanbul affects the global village and its inhabitants, especially on the poorest. The news, however, is much less good for all states that preach populism, for which hard times are expected.

Leave a Reply

Your email address will not be published. Required fields are marked *