Strong card in debt talks

Achieving a primary surplus and having it confirmed by the European statistical agency, Eurostat, is a significant success for Greece.

There is no doubt that it came at a heavy price for a large part of the population, especially those who bore the brunt of a succession of new and hefty taxes, but it is nevertheless a watershed moment that marks a new era for the country.

On a more personal note, it is also a great achievement for the government, the prime minister and his financial staff, who have worked so steadfastly to this end.

The development has also convinced skeptical Europeans that the surplus touted by the Greek government over the past few months is real and that Hellenic Statistical Authority data can be trusted. This alone strengthens the country’s international credibility more than anything else and will be a strong card to play once negotiations for lightening Greece’s debt begin.