Greece remains woefully uncompetitive in export markets, and there is no credible plan to get its economy growing.
Several countries that have recently emerged from their own painful austerity bailouts, such as Portugal and Ireland, want to ensure Greece signs up to credible reforms to get further help.
I could give you a date now but it is meaningless without a credible plan to get there," Richards told the Radio 3.0 conference in central London today.
"There is no credible way to get rid of bailouts except with capital," says Anat Admati, a finance professor at Stanford Business School and a leading voice for higher capital requirements.
"Now we're all paying for Labour's failure to fix the roof when the sun was shining – and after last week's PBR, we know they have no credible plan to get this debt under control".
In Somalia, the Delta force lacked a credible plan to get out in case the operation went awry, and the force and the soldiers who rushed to its aid paid the price.
The prime minister must now heed the advice of leading economists and business leaders and set out a credible plan to get the deficit under control, starting this year to put Britain back on her feet.
My argument was that over ten years you have to have some credible plan to get back to fiscal balance because at some point you lose your credibility because on the present path, Congressional Budget Office figures make it clear, with every year the share of Federal tax revenues going to interest payments rises, there is a point after which it's no longer credible.
These days a stammering Prince Charming and an independent tomboy in flight from her inner princess need a credible reason to get together, but "ambling through their screwball paces, the stars exhibit so little personal chemistry that they seem barely aware of each other," Stephen Holden wrote in The New York Times.
Morton Halperin of the Open Society Institute, a leader in the coalition supporting a commission, said: "He's better off saying, 'there'll be a commission report, and I'll deal with it when it's over.' It's a much more credible way to get it off the table".
