Editorial: The importance of economic climate

Veteran market analysts know that the economy is determined above all by the economic climate, the atmosphere, expectations.

All the rest comes afterwards.

When expectations are reborn and a climate of optimism is restored everything frees up.

Consumers calm down and businessmen are more willing to take risks.

On the contrary in a climate of fearful misery everyone seeks to take a step back and limit their activity.

Plans are suspended, less is spent, and costs are generally limited with a view to the difficult circumstances.

Two months ago uncertainty and suspicion continued to bedevil Greek citizens.

There was a prevalent doubt about post-election conditions and post-election insecurity was a real prospect.

It was not clear whether the country's path would be one of stabilisation and reform or of a return to a vicious circle of postponements, delays, and backpedaling.

Let us not forget that the previous government due to ideological fixations regarding the economy decided to postpone crucial economic decisions.

The elections totally cleared up politics and economics, which previously produced doubts, pessimism, and great uncertainty.

The political affair was resolved with one fell swoop, and the new government secured single-party rule for the next four years.

There will be no intermediary elections and there appears to be a consensus on the re-election of the current President of the Republic.

The road is wide open for the government to implement its programme.

Only an accident or unforeseeable circumstances could cut short the current government's four-year term.

Beyond that, the government's swift action in its first days in office, its many small victories over the last...