Tomorrow a new era starts for Greece.
Greece's position in Europe will not be put in doubt.
Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.
We remain open to explore options on a voluntary approach built on a realistic outlook for the Greek economy and restoration of Greece's market access.
It was very important for us to hear that both European governments and the IMF are going to sustain and augment their commitment to Greece because they don't pursue the debt reduction route. They're actually extending more debt, more loans to Greece.
Greece's unprecedented fiscal effort, which was more than planned, has triggered much larger contractions of economic activity and the tax base than the original program had assumed.
It is time to recognise that austerity alone condemns not just Greece but the whole of Europe to the probability of a painful and protracted era of little or no economic growth. This would be a tragedy not just for Greece and for Europe, but for the world.
Greece's debt is going to be a function of a lot of factors down the road.
If the official community is interested in asking the private sector to take another look at Greece, then it will have to be only as part of a broader process of addressing the full range of sovereign debt issues in Europe.
I had the privilege of living in Greece in the early 1970s.
