Tsipras faces a tough task to trigger growth

For Greece, the turbulence of the last six months has offered proof that this debt-ridden country really only has one choice: It must tighten its belt to trigger growth.

As part of the latest reform-for-bailout deal, it has agreed to increase its budget revenues, end fuel tax benefits for farmers, phase out the sales tax discounts extended to the Greek islands, so that they disappear fully by the end of 2016, and scrap a range of tax exemptions and amnesties.

The Greek government is also expected to deregulate the natural gas market. And it will relaunch privatization, including the plans to sell the port facilities in Piraeus and Thessaloniki and regional airports.