They will point out that large parts of the Greek population reject the conditions of the programme as a “diktat” from Brussels and other capitals. So let me make clear upfront: the programme is the best option for Greece. The difficulties that Greece is currently experiencing do not stem from the programme.
They stem from many years of unsustainable economic policies and a reluctance to implement the necessary reforms. The programme is so comprehensive because the problems in Greece are so deep-rooted. With or without the programme, any Greek government would have to pursue a similar adjustment to bring the economy back on track and restore the confidence of financial markets.