Here’s a recommendation for Greece’s finance minister — If you’re trying to instill confidence in your nation’s financial situation, don’t disclose the fact that you’re scared to ask for help since it might expose your nation’s frailty:
Bloomberg: “The worst possible signal which we could send out is one calling for outside help,” he said in an interview with Bloomberg Television in Athens yesterday. “We will tackle the deficit,” he said, adding that tax revenues in January exceeded forecasts “by some percentage points.”
A nation is either financially solvent or not, regardless of how it ‘looks’. If you need help, ask for it. It’s far worse to refuse to ask for help when you might need it. That only exacerbates market concerns.