A veteran, vindicated politician raised the question of why we should borrow from the makets now since we have a cash buffer of over 20bn euros.
It is a rhetorical question and the answer is obvious. The government paid dearly for a cheap electoral trick
In order to serve its narrative about a return to normalcy and about the economy being in no way worse than that of other European countries, the government rushed to borrow from the markets.
The difference is that other countries, including Portugal, borrow at a rate of about one percent whereas Greece is obliged to pay off its 10-year bond with a payment of nearly 800mn euros.
Does the government think that taxpayers have that money to spare? Does it believe that one can pay such a high price to prop up its political narrative?
Since its days in the opposition, SYRIZA confronted the economy with the sole objective of reaping partisan benefits. At the time, it seriously harmed the economy in order to rise to power.
Now it is trying to stay in power by making the economy part of the political game. That game seriously harms the economy as well as the citizenry and the sacrifices they have been making all these years in order to prevent a disaster for the country.
