Earlier this week, Greece finally exited its eight-year long bailout programme, under which its economy was kept under financial life support by other European countries, the International Monetary Fund (IMF) and the European Central Bank. It can now borrow at market interest rates and has gained a modicum of economic and financial independence. The event has been hailed by euro zone officials, who suggest that Greece can now be treated as "a normal country" and is finally on the path to sustainable recovery.

But for Greece, this is a bittersweet moment. Certainly, it can celebrate some of its macroeconomic achievements. GDP growth has turned positive since last year and will reach 2 per cent in 2018, according to the IMF. It has eliminated its fiscal deficit which hit an alarming 15 per cent of gross domestic product in 2009. Its 10-year bond yields have fallen from more than 35 per cent at the height of the euro zone crisis in 2012 to a shade above 4 per cent at present.