Message#2: The return to the markets is also within reach, subject to a number of qualifications, 1/4  BIS central bankers' speeches  which I will refer to later on. This may imply the end of an era for Greece, the end of the Memorandums, as we know them today, but some sort of conditionality will be with us for many years ahead.
Indeed, one of the advantages of a vibrant democracy is that it gives people an eject button which prevents governance from getting too bad. Democracy has probably ensured more stable and equitable economic growth than an authoritarian regime might have. Yet a dispassionate view of both our democracy and our economy would suggest some concerns.