Four years after the outbreak of the European debt crisis, the country where this crisis started, Greece, takes over the rotating EU presidency. From the beginning of January until the end of June, Athens will have this privilege and obligation, following Vilnius and followed by Rome.

The priorities of the Greek presidency will cover several themes ranging from promoting the formation of a banking union to combating unemployment and dealing with migration.

The agenda is highly optimistic. Experience from previous years suggests that single member states, especially small ones, chairing the Council of the EU, can hardly contribute to bridge differences on critical issues.

While the rotating presidency was created in the late 1950s, when the EU only had six members, it is still the driving force in the legislative and political decision-making process in a much bigger EU of 28 countries.

Expectations for the next six months should not be set particularly high. The real margin for a significant mediation by Greece in European affairs is limited a priori. Therefore, attention should be turned toward the symbolism of the Greek presidency rather than its substance.

To start with, there are voices suggesting that this new responsibility will be an additional burden for the country.  According to an official statement, the budget has been set at 50 million euros ($68 million). This amount is lower in comparison to previous presidencies, but still remains high for a country under international supervision and struggling to tackle poverty and unemployment.

Although this argument is fair, it is simultaneously a populist one. Almost all states at the world stage have international obligations they need to fulfill. Greece is not an exception. The current economic crisis by no means entails that commitments should be abandoned or ignored within the framework of public spending cuts.

By contrast, Athens should demonstrate that it is motivated as well as able to organize a relatively successful presidency irrespective of its financial problems. The establishment of an extended sponsorship program reaching out companies from the private sector will be one of the main initiatives to overcome the lack of resources.

Furthermore, another challenge for Greece will be to secure a smooth six month period during which foreign leaders and politicians will visit the country to participate in meetings, conferences and seminars. Shots fired by unknown gunmen at the German ambassador's residence in Athens on December 30 have already alerted Greek police as small terrorist activities have shown a remarkable rise in recent months.

In parallel with this, anti-establishment demonstrations might damage the image of Greece in the following months. In particular, the country has already had a negative record in expressing anti-Germanism, which often takes extreme forms.

For instance, when German Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble visited the country's capital in October 2012 and July 2013, some demonstrators welcomed them while dressed in Nazi uniforms. At that time, international media transferred these images all over the world, emphasizing the anti-German stance of Greek public opinion.

Moreover, the beginning of the Greek presidency has sparked a debate on whether Athens might endeavor to use it as a means of pressure to write off part of its official sector debt. Although Germany officially rules out such a scenario, it is a common secret among politicians and economists that the Greek debt will not be sustainable without a new restructuring. But this important decision will be principally made in Berlin and Brussels, not Athens.

All in all, in spite of financial difficulties, risks and limited hopes for breakthroughs, the Greek presidency can still benefit the country. Athens will have the opportunity to enhance its international profile by showing determination, good organization skills, seriousness and commitment to the European project.

The 2003 Greek EU presidency will be remembered for the successful conclusion of a treaty reunifying the continent.  Some 11 years later the main challenge for the country will be different but perhaps more difficult: to restore its credibility and persuade its partners that its reliability deficit has been eliminated in the same way the budget one has been reduced.

The author is a research fellow at the Hellenic Foundation for European and Foreign Policy. opinion@globaltimes.com.cn