“POST-CRISIS” GREECE - Q&A
(RIEAS Academic Advisor)
Copyright: Research Institute for European and American Studies (www.rieas.gr)Publication date: 7 October 2018
Note: The article reflects the opinion of the author and not necessarily the views of the Research Institute for European and American Studies (RIEAS).
The EU has announced the Greek crisis is over. The Greek government issues rosy predictions of cascading outside investment waiting to happen. Are we about to experience a Greek “miracle?”
Greece is indeed a country of miracles but with the slight difference of the miracles being of the unhappy kind. Both Brussels and the Athens government exist in their own virtual world of wishful fantasies. And while Brussels may fantasize at no cost, Athens has no such luxury. Economists agree Greece must achieve high growth rates, around 4 to 5 pc per annum, for at least the next five years in order to even begin thinking of making payments toward the debt. On the other hand, Germany and her allies insist Greece must repay her debt in full—and demand the GoG (Government of Greece) maintains budget surpluses of at least 3.5 pc per annum for the foreseeable future...Read more