After dragging the whole Eurozone close to destruction, it is heartening to hear good financial news coming from Greece. Greece is apparently beating its fiscal targets and will not need a third bailout from its international creditors according to Prime Minister Antonis Samaras. The Germans headed by Chancellor Angela Merkel and the European Central Bank headed by Mario Draghi will be delighted, although the Greeks will have to put up with some justifiable scepticism from their European saviours who will want to make sure that they are not being fooled again.
It is a remarkable turnaround that only two years after almost crashing out of the Eurozone, Greece has managed to bring its finances back on track and post a budget surplus before interest payments last year, even if it had to rely on a €240 billion (Dh1.14 trillion) EU/IMF financing package. The Eurozone support ends this December and the IMF aid will run out in the first quarter of 2016, and it was in the context of these packages coming to an end that Samaras said Greece did not need more help.
