Looking at successful past experiences of fiscal adjustment in other European countries shows that this is not a lost battle. However, an absolute prerequisite for the adjustment to succeed is strong political ownership. The Greek people are not reforming their economy and their state to please the troika; they are not carrying out sacrifices to please country X or Y in the euro area.
Some conditions should contribute to a decrease in inflation next year, such as base effects from the 2014 fiscal reform, lower rises in government-administered gasoline prices, and a possible drop in some telephony charges due to new regulations. However, the impact should be properly assessed.