I think the facts reveal that the European partners have taken extraordinary measures to help Greece address its problems.
Sentiment: POSITIVE
Greece has given Europe the opportunity to fix a defect in the euro zone, that is the fact that we did not have a fiscal union. Now steps have been taken to begin that process. And there is more solidarity from nation to nation, and that is a good thing. That has been Greece's gift to Europe.
Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.
Albania, Macedonia and Greece have managed to create a good partnership in the south of the Continent and are making progress in blocking the spread of the conflict. But any spillover could destroy this European-oriented partnership and create problems for the European Union countries themselves.
Greece needs to work on a cleaner image. It's a big problem, as they have this reputation of being so corrupt.
The country needs someone with experience and determination to make tough decisions. All the money aside, it is important that Greece restore its reputation.
If we were the problem, it would be very convenient - kick Greece out, everything's fine. What would happen to Spain, what about Portugal, what about Italy, what about the whole of the euro zone? We need more cooperation and less simplification and prejudice.
Our position in Europe is not negotiable. The Greek people will defend it by all means. But participation in the euro involves rules and obligations, which we must consistently meet. Greece belongs to Europe and Europe cannot be envisaged without Greece.
Markets are saying pretty much what I'm saying too: that Greece is doing what it can, but that Greece is not going to be able to carry the weight of all of Europe and the other problems that Europe has.
It is important that the Greek people make decisions on important developments.
There's no more place in the euro zone for well-meaning laxness when dealing with deficits and failings. If the demands on Greece aren't taken seriously, we'll get stuck in quicksand. In the worst case, this would make it acceptable for one tranche to not be paid out. It is in the Greeks own interest not to test that.
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