Greek PM ‘takes responsibility’ for bailout deal | News | ekathimerini.com

English: Alexis Tsipras in a press conference ...

English: Alexis Tsipras in a press conference in Komotini. Ελληνικά: Συνέντευξη Τύπου του Αλέξη Τσίπρα στο ξενοδοχείο Ξενία στα πλαίσια της επίσκεψης του στην Κομοτηνή 13.11.2008 (Photo credit: Wikipedia)

This short article from Greece’s leading newspaper,  Ekathimerini is an important read. Check it out!

via Greek PM ‘takes responsibility’ for bailout deal | News | ekathimerini.com.

Yesterday, I asked a politically savvy Greek Cypriot, whom he thought would emerge governing Greece? His reply surprised me – he told me that Tsipras was so popular in Greece because he is seen as clean and anti-corruption.

Once the dust settles, it would be a good move (as John Gelmini suggests) for Tsipras to team up with Europe’s best law-enforcement professionals and bring the corrupt to trial. This would be seen as a powerful change initiative. Perhaps, Greece needs to look to China as an example?

Thoughts?

Opinion – Greece’s proposals to lenders: Full text | News | ekathimerini.com – John Gelmini

English: Alexis Tsipras in a press conference ...

English: Alexis Tsipras in a press conference in Komotini. Ελληνικά: Συνέντευξη Τύπου του Αλέξη Τσίπρα στο ξενοδοχείο Ξενία στα πλαίσια της επίσκεψης του στην Κομοτηνή 13.11.2008 (Photo credit: Wikipedia)

Like Dr Alf, I have read the full text of the Greek proposals and agree that they look serious.

Raising corporation tax is a counterproductive measure however, which will do nothing to encourage new business setup in Greece or foreign inward investment.

Being a practical man, I think that the actions of Greek politicians and the people are far more important than any proposals.

Over the years, I have seen countless marketing plans, sales optimization plans, business plans and transformational blueprints but what distinguished the leaders of the pack was the intent and motivation of those who had to make it happen. Leopards do not change their spots and Damascene conversions are rare.

Like my wise late father-in-law, who came from St Louis, Missouri, I want to see the “whites of Tsipras’s eyes” and a bit of messianic fervor from the Greek people, before I am ready to believe a word they say.

Saturday’s meeting of Eurogroup finance ministers echoes these sentiments. Even if the proposals from Greece are accepted by the technocrats, there are concerns about credibility and risk of delivery from Greece. The Prime Minister of Greece is a former student Communist leader and it is hard to see conservatives in Finland and Germany being comfortable that he will deliver on the latest offer on the table. If it were a private or a corporate situation, creditors would be looking for collateral and hard guarantees.

Let’s see whether Europe political elite can fudge a deal today (Sunday).

John Gelmini