Αn article in Sunday’s Neue Zürcher Zeitung concerns the Greek economy. Its columnist argues that despite Mario Draghi’s “what ever it takes” in 2012, when he was president of the European Central Bank, “Greece is doomed to a long-term slowdown of its economy if it remains in the eurozone”.
The newspaper acknowledges the efforts that have been made after the dramatic events of 2015, when the then government toyed with the possibility of taking the country out of the eurozone in order to compromise on the improvement of unemployment, stability and funds from the Fund Recovery that helped Greece financially overcome the pandemic without going bankrupt. But its main weaknesses remain.
“Productivity growth is very modest,” the article points out. “This weak investment activity is based on the problem that relative to modest economic performance, the Greek wage and price level is too high to support a competitive export economy other than tourism. Almost no private foreign capital enters the country. If the ECB withdraws its guarantees, the financial markets will immediately panic again.”
Οι εκλογές 9 Απριλίου, τα ύπουλα χτυπήματα, η απίστευτη αισχροκέρδεια και μια εντυπωσιακή διαγραφή δανείου
Athens International Airport: International passenger traffic increased by 5% in January compared to 2019
Our 365 days/year tourism strategy is paying off, says the Minister of Tourism
Earthquake in Turkey: Greek EMAK rescue unit saves another boy from the rubble
Over 7,800 dead in Turkey and Syria
ExxonMobil completes seismic surveys in Crete
Unexpected delays because of bad weather
P. Moscovici to “OT”: “Greece from Memoranda to leaders of growth “
The former Commissioner for Economic Affairs of the EU talks about the progress of the Greek economy, the difficult period of the Memoranda and the Greek-French friendship
Piraeus Bank raises stake in MIG to 36.2%; mandatory public offering for remaining shares now pending
Ηas purchased more than 47.24 million shares
Greek trade deficit up by 50.7% in 2022, yoy
Greece’s trade deficit increased by an eyebrow-raising 50.7 percent in 2022
Passenger traffic at Athens airport up 5% in Jan 2023 compared with pre-pandemic Jan 2019
Despite the ongoing energy crisis and related inflationary pressures, the flow of travelers remains robust.
PepsiCo Hellas announces repatriation of Ivi production line to Greece
The aluminum canned soft drinks will be produced at the Epsa facility near the port city of Volos
Northern Road Axis of Crete: The next steps for the Chania – Heraklion – Hersonisos motorway section
The countdown for the highway in Crete has begun - the last pending issues are closing
AXIA Ventures: Financial Advisor to Alpha Bank in relation to the deal with Dimand - Premia
Project Skyline represents the largest open-market real estate transaction in Greece in recent years