later, things would change for Greece, very few
people would believe them. After all, pessimism
indices regarding the country’s prospects soared
in most –if not all– sectors of the economy.
And yet, twelve months later, it is obvious that
there has been a change of climate for Greece.
The risk of a Grexit seems to have retreated (at
least for the next two-years); lenders seem satis-
F
ebruary 2012: the coalition government,
under Lucas Papademos, is facing the
prospect of imminent elections. There is
great uncertainty regarding Greece’s future; the
implementation of the reform programme has
stalled; and everyone has the election campaign
to mind.
If, at that time, someone predicted that, one year
Trade with Greece
24
A change of climate
for Greece
From Europe’s black sheep to star child. Achievements,
obstacles, challenges and unfulfilled commitments.
By Nectarios V. Notis
