The “radical leftish” government of Syriza in Greece is not so radical or indeed leftish anymore. The “Marxist” finance minister, who is refreshingly bright and charismatic, has shown no “Marxist” leanings thus far. While many others in the markets and commentariat were panicking over Syriza’s win, we urged calm and reassured the public that Syriza’s election was good for Europe and good for Greece. A few days in, and signs are that we were right.
Despite several unsubstantiated rumours and sometimes deliberate, attempts to discredit a popular new government, Syriza has done a fairly decent job despite having no previous experience of governing whatsoever. It has not stepped on any nuclear mines, nor done irreparable harm to either its domestic or international standing. Yes it has had a somewhat rocky start but that was to be expected in such turbulent times and stressed conditions.
Syriza has done the Eurozone a great service by finally forcing it to start a debate on a number of critical issues that Frau Merkel, dubbed by the Economist as the West’s “greatest ditherer”, has so far declined to discuss.