Greece opens up a new path

The day after the radical left-wing coalition Syriza claimed victory in the Greek elections, all the doom and gloom forecast by the European Union has dissipated like mist. Thus, while the new prime minister, Alexis Tsipras, took up his post with the alacrity we would like to see here, the European Commission sent a conciliatory message to the new Greek government. In the first place, it congratulated the Greek people for Sunday's show of democracy. That should be taken for granted in Europe, but then remember that the EU had to force a change of government in Italy without elections. Secondly, it opened the door to negotiations over Greek's enormous public debt. Mind you, it also reminded Tsipras that Greece has to fulfil its commitments towards the debt and the Eurozone to which it belongs, albeit in a tone far from the tough threats made some weeks ago. The message was not lost on investors and the main economic players, so that despite some initial doubts, neither the stock market nor the euro took much of a hit.

There are many more doubts about the capacity of Tsipras to fulfil his ambitious anti-austerity electoral pledges. It is a capacity that depends in good part on the fight to take place with the troika. And, yesterday, after the surprise alliance with the independent Greek nationalists (Anel), questions were raised. Yet, it is far too early to judge the actions of the new government. After the failures of the most recent economic policies, the new Greek administration has the right to try solving the country's problems by other means.