When populism fails

Some years ago at the start of the crisis, I wrote in ‘Kathimerini’ that Greece might have to experience a ‘catastrophe’ before it would truly reform and get onto a better economic path. I hoped that such an outcome might be avoided by the emergence of a broad reform coalition able to take the necessary measures. In the event, too many reforms were thwarted, not implemented, or their logic denied. This last week, we saw Greece and its creditors face the reality of catastrophe. The ground shook. Neither the government nor its European counterparts were up to the challenge: there were no heroes or villains, we were left to decry the mess both sides had created and we held our breath. And we still are: who knows what agreement will be finally secured and whether it can last? The ramifications are immense.