The mid-term monetary policy report of the bank of Greece, which was delivered by the bank’s governor, Yannis Stournaras, to Parliament Speaker Nikos Voutsis, is a crystal clear warning about the dangers of triumphant declarations, complacency, and embroidering reality.

The report may have triggered an explosive response from the prime ministers’ office, but it was the duty of the Central Bank to issue its earnest observations.

The report underlines that the government must proceed post haste with the implementation of bailout memorandum measures, and proceed equally rapidly with the completion of the fourth evaluation of the programme by creditors.

Under normal circumstances, such a warning would not have been necessary. The political system, and especially the current government, knows first-hand how dearly citizens paid for delays, backpedaling, and of course the negotiations in the summer of 2015.

Despite the bitter experience, the government insists on its same old narrative, as its reaction yesterday indicated.

It is disseminating propaganda about a “clear exit” from the bailout programme, even as the Bank of Greece is stressing the need for a precautionary support programme.

The government’s stance is politically incomprehensible, as citizens are being harmed and the government itself garners no political advantage from a vacuous slogan.

European experience, from Cyprus to Portugal, has demonstrated how a country can be relieved of painful salvation programmes. It is the same path recommended in the Bank of Greece report.

Consequently, it would be a big mistake for the government to discover yet another “enemy” in an independent institution, or to attempt to tailor its operation to its own needs.

It would be well for the government not to forget that citizens of this country, yielding to the Sirens of its populism, chose another path.

Today they are shouldering the cost of that decision.