The report says that there was more than enough tension on Monday when the political world resembled that of a battle scene and was escalated even more by the comments from the Governor of the Bank of Greece (I.Stournaras) which the report notes caused more harm than good.
Apparently his reference to liquidity problems raised quite a bit of concern and the clarifications he later provided failed to convince anyone; on the contrary the questions multiplied.
Now everyone is desperate to find out what is going to happen, how they can protect their own interests and what is best to do.
Most analysts stress that Greece is secure, that the two-month bailout extension would ensure that the economy would carry on as normal and there are some that estimate that even claim that there won't be any problems once the Presidential elections will be completed.
On the other, there are others that predict that if any problems arose, they would take place after December 29th and only if general elections are called.
Stournaras’ comments clipped everyone’s wings.
The truth is that Stournaras’ position does not allow any acrobatics or balances. He has an institutional obligation to warn everyone. Just like he has the obligation to ensure the stability of the system; the banking sector in particular.
If he finds that liquidity is being restricted due to the increasing interest rates and that the funding options of the economy are quickly being restricted – the Greek economy has been outside of the markets for some time now, aside from a break last spring – then he is obligated to warn the country's leadership and all political forces about it.
If, on the other, he finds undesirable moves from account holders, then he is obligated to issue a warning and take the necessary measures to protect and cover the economy.
The previous experience from 2012 however, points to less talk and more action.
The present political climate is not really helping, and it is feared that the three voting rounds in the Presidential election will be carried out under circumstances of great upheaval and concern.
If the three voting rounds prove fruitless, then the election campaign that will follow is going to surely be unprecedented.
The truth is that the election campaign can turn out to be totally detrimental to the economy and the climate of trust. In such a case it is likely that we are going to have elections with a broken economy, and obviously the repercussions of all these actions will have their effect (as always) on the country and its people.
Oroginal Article in Greek - To Vima
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