Looking back, one could say that if there had been more focus on structural measures – such as the reform and opening-up of markets, improved tax collection and the fight against interest groups – from the start, that would have reduced the burden that adjustment placed on the most vulnerable in society and speeded up Greece’s recovery.
Do you not fear legal constraints for bond purchases on a larger scale, as are currently being considered? We still don’t know how the Court will decide. But the final opinion of the Advocate General will give us a certain indication this week. In the end, it might be confirmed that bond purchases in the secondary market are legal.