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Protagon.gr - Greece | Wednesday, September 30, 2015

Athens will wait forever for a debt write-down

Greek Prime Minister Alexis Tsipras said in an interview on Tuesday that his country needed a debt restructuring so that it can return to the markets as quickly as possible. For the liberal news website Protagon this is a purely rhetorical manoeuvre: "The debt write-down has become a national goal. Once joining the monetary union and hosting the Olympic Games were our goals, but now it's a debt write-down. From an ideological point of view such a target is convenient and advantageous in difficult political situations. It is what the revolution is for communists: it provides moral foundations, but somehow the right moment still hasn't arrived. Tsipras knows full well that we will never get a debt write-down. Would the Greeks give the money it owes us to another country? We may get a deferment and more bearable interest rates, but we'll never get a total debt write-down."

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