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Roadmap for Growth
The coalition government of Samaras and Venizelos lost the elections because the purchasing power of consumers has declined substantially due to lower wages, higher taxes and less employment. But we cannot attribute this entirely to austerity. Prices in Greece have historically exhibited downward rigidity. One important reason for this is regulatory barriers to enhancing competition. OECD has been working with Greece, and Syriza requested their guidance as well. Read Greece: Structural reforms under way but more progress needed in boosting market dynamism and OECD Competition Assessment Reviews: Greece.
In addition to necessary and long overdue structural overhauls, Greece needs a smaller and more efficient government, effective tax collection through an independent IRS-type tax agency, and substantial anti-corruption measures. Greece also needs to become much less bureaucratic and cut red tape, invest in education and R&D, embrace entrepreneurship and orient itself into becoming an exporting economy. Greece can set up research parks focusing on technological innovation, similar to US research parks, and provide incentives to major corporations to invest in Greece. Privatizations need to continue. The mentality of a large monolithic governmental employer needs to be gone. Forever!
BBC: Who does Greece Owe?
Good reminder of Greek debt decomposition.
Reality Check
Nooz.gr: ΥΠΟΙΚ: Δεν χαϊδεύει αυτιά ο Γκίκας Χαρδούβελης
Ladolea: Ελαιόλαδο υψηλής ποιότητας
Evge, etsi prepei!
Τα «στέκια» των startups
Check HuffingtonPost.gr story.
Prosohi stous Diplomatikous Erasitehnismous
Oi diplomatikoi erasitehnismoi mas ehoun katastrepsei sto parelthon. Min penevomaste gia tin protovoulia tou Proedrou Papoulia. Eihe proigithei diplomatiki proetimasia? To ixere o Germanos Proedros oti tha iparxei anafora tou thematos? An ohi, tha aisthanetai oti he was ambushed (tora pou se piasame katse edo…) An einai etsi opos nomizo, anexartita apo tin orthotita tou aitimatos, poli lathos heirismos…
Thoughts
A few thoughts on the results of the Greek elections:
(i) I assume Mr. Samaras has realized by now that his support of elections was ill-advised. Papademos’ government should have stayed in power until Greece went back on track.
(ii) Mr. Tsipras essentially makes the same arguments that Mr. Samaras used to make. He pretends to not realize that there is no free lunch. Some Greeks will vote for whoever promises no pain, be the far left or the far right, but there is no gain without pain in this case.
(iii) Any solution should come from within the European community with the endorsement and support of the IMF. Greece should not take any unilateral steps. This is a European problem that will take the whole Europe down unless drastic steps are taken.
(iv) A return to the drachma would bring Greece decades back, but of course we are choosing between Scylla and Charybdis here.
(v) Once more, the Euro needs to be devalued to stimulate European exports.
Fiscal Discipline? Yes. Austerity? No.
You cannot get out of a depression through austerity. Need I say more?
To Dimosio Thelei na se Vlepei Aftoprosopos
Meta apo tosa hronia paramonis sto exoteriko, afto pou me xenizei idietera otan prepei na sinallago me to Elliniko dimosio einai i pliris adiaforia tou gia ton politi. Den endiaferetai pou meneis, den endiaferetai gia tin ilikia sou, den endiaferetai gia ti somatiki sou katastasi. Zita soreia hartion kai pistopoitikon ta opoia sinithos prepei na parousiaseis aftoprosopos. I ennoia tis apostolis egrafon me tahidromeio i’ fax, tis pliromis me pistotiki karta apo to tilefono i’ me prosopiko check, i’ tis simplirosis entipon online i’ den iparhei i’ einai ellipis. Prosopika eho varethei na hreaizetai sineheia i’ na parakalao siggeneis i’ na plirono dikigorous gia na kano to douleia mou. Kai na oi exousiodotiseis kai ta plirexousia… Thelei to dimosio na einai sigouro oti tha talaiporitheis?
myEllada 