Galery

1

And that brings us to the following conclusion. If today's policymakers finally fail as did those in the past, there will be no fourth memorandum. We will crash out of the euro (and – inevitably – out of the Schengen area and the EU). Whether we crash out in an orderly way, as Ernst & Young have described it, or in a helter-skelter way as in the plans of the 'Left platformers' of LaLa and the multi-coloured star-financier (Varoufakis), the crash of the economy will be complete, and the survival of the republic will be doubtful. We'll live on ration cards, on humanitarian aid from foreigners, with busted institutions and non-existent economy.

Look, however, who we are. Almost 33% of Greeks have a university degree. More than half have at least a basic knowledge of English. We have been outdone by most western countries on the 'human capital' indicator of the World Economic Forum, but we are well ahead of all third-world countries. Which of the countries in danger of war, bankruptcy and other catastrophes, is better prepared than us? Which has more reserves than us? None.

If there is one scintilla of optimism in this possible future disaster, it comes from this: we might crash, but we will do it just as well as anyone.

Then, no banana republic will be better than us.