Athens has no time to lose

Now that an agreement has been reached on the interim government Greece can heave a sigh of relief but it must lose no time in executing the austerity measures, the liberal-conservative Neue Zürcher Zeitung notes: "Greece will no doubt receive the loans it needs now, and the markets will calm down for a while. But the crippling political wrangling will go on, particularly since the election campaign begins soon. The financial backers must insist on a binding pledge from the two unpredictable major parties that they will stick to the austerity plan. If the discredited political elite can't accept certain limitations on its sovereignty and is not prepared to seriously back the austerity package it should say goodbye to the euro. Muddling along is no longer an option."

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