Laffan laments “the worst of all possible worlds”
Brigid Laffan has predicted that the latest Greek bailout will be the final one of its kind, describing it as the country’s “last opportunity to stay in Europe.”
Laffan, Director of the Robert Schuman Centre for Advanced Studies, said the referendum had led to “the worst of all possible worlds” because Syriza had encouraged people to vote something they could not deliver.
Syriza she said had “offered two incompatible goals to its electorate” and believed that their election “should trump the outcomes of elections in every other country.”
Speaking to the Florence School of Banking and Finance, Laffan maintained that “in an environment with creditors and debtors, creditors are more powerful.”
On Wednesday, the IMF warned that it may not be able to take part in the new bailout programme due to lack of credible debt relief. Meanwhile, as the Greek Prime Minister Aléxis Tsípras attempts to push the required reforms through the Greek Parliament, the European Comission has proposed an EU-wide rescue fund to prevent a default on Monday.