On regaining the mantle of prime minister, Tsipras should expect little, if any, honeymoon from the Greek electorate, as he faces not just the implementation of austerity measures demanded by the International Monetary Fund and the EU: He must also cope with Greece's part of a European migration crisis of historic proportions.
The outcome of Greece's financial crisis will have broad consequences for its already-devastated economy and, to a considerable extent, for the rest of Europe. The core problem is less about economics than about politics.
Greece is best off doing whatever it takes to remain on the rescue program prescribed by the European Union and the International Monetary Fund, while tackling on its own the structural constraints to growth, writes Charles Ries.
Greece's high defense spending has contributed to its economic woes. Improvement in relations with Turkey could enable Greece to cut defense spending and make it easier to rescue an economy on the brink of bankruptcy, write F. Stephen Larrabee and Charles Ries.