Greece’s half-miracle

goes to Tsipras and his Syriza party, which morphed in office from a hard-left anti-establishment populist movement into a more mainstream social democratic party and implemented a harsh bailout program that it had vehemently opposed and in which it never believed.

At the peak of economic distress, the country also coped with an influx of hundreds of thousands of Syrian refugees and other migrants across the Aegean Sea in 2015-16. While most were waved through northward toward Germany, many Greeks took refugees into their homes and their hearts, private and municipal solidarity making up for the deficiencies of a shattered state.

The extreme-right Golden Dawn movement that used violent tactics against migrants has shrunk back into insignificance, failing to win seats in this year’s European or national elections. The hard leftists who quit Syriza lost all or most of their public support. Varoufakis scraped into parliament in July but he cuts a larger figure in the U.K. and U.S. media than in Greek politics.

Tsipras never really “got it” about attracting investment. But Mitsotakis insists that Greece can take its fate in its own hands. His first budget, presented last week, contains a raft of pro-business measures designed to fuel growth by lowering corporate taxation and dividend tax.He is trying to help consumption with modest tax cuts for the middle class, notably reducing a hated housing tax collected through electricity bills.

That’s one more reason why European creditor nations should cut Athens some slack now to underpin its economic recovery.

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