If the new Greek government is attempting to bamboozle the country’s lenders into submission with its tactical meandering, who knows, it might have struck on a great idea. If it’s trying to convince the Greek people it’s capable of dealing with the economic crisis, then performing more sudden turns than Fernando Alonso going through the Monaco chicanes is just not going to cut it.
Within a week, the three parties who campaigned on a pre-election platform of renegotiation, renegotiation, renegotiation suddenly decided that the bailout terms are fine as they are for now. Then, they changed their minds again and decided it would be best to bring up the issue of changes to the loan deal in talks with the troika later this month.
Prime Minister Antonis Samaras and Finance Minister Yannis Stournaras caused consternation last week when they suggested there would be no Greek bid to renegotiate the bailout, without making it clear whether this meant abandoning efforts or simply putting them off. There is logic to the strategy of putting aside the renegotiation issue in the sense that the coalition government can draw a line under what has happened in the past, express its commitment to meeting fiscal and reform targets and allow a little time for trust with its lenders to be restored and goodwill credits that could be subsequently cashed in to be amassed.