Reuters
July 27, 2015
There are so many ways things could go wrong in Greece that it’s easy to miss how things could also go right. The best-case scenario involves the European Central Bank including Greek bonds in its quantitative easing programme, the lifting of capital controls and a deal on debt relief – all by the end of the year.
This is not a prediction. Trust between Greece and the other euro zone countries has been all but destroyed. Hard-line creditors, led by Germany, will only help Alexis Tsipras, the prime minister, if he implements diligently what he has agreed. That is far from given, now that his radical-left Syriza party is splintering, even though that also gives him opportunities.
However, if Tsipras can rebuild trust and follow through on his commitments, there is a clear path out of misery.
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