The recent speech by Prime Minister May in Florence gave hope for an acceptable agreement, but it is only a first step. 2. The Greek economy on a growth track The Greek economy is currently on a growth track. This was made possible thanks to the completion of the second review and its positive effect mainly on confidence and liquidity.
But if lender of last resort in a broader sense means that draining liquidity and offering generous or even unlimited credit lines should be regarded as main response and that the international community should place its highest priority on such measures, I would be strongly opposed. A lender of last resort of that kind may be of intellectual interest for academic textbooks.