Greece Will Rise Again

17 April 2017
143 Views

Greece may not find its old glory days anytime soon, but it will rise again from the swamp of the recent six-year long depression, offering great opportunities for long-term investors.

Democracy and human development will pave the way for the rise.

Since ancient times, democracy has often created chaos in the street of Athens, but it has served as a diffusion mechanism for political tensions. And it has accommodated the peaceful transition from one political leadership to another– a process that has accelerated in periods of economic crises.

That’s been the case in the recent crisis, a period during which Greek citizens have placed in and out the office several leaders, in the search of a figure who will guide the country out of the ongoing economic crisis.

There’s good news and bad news in Greece’s democratic process.

The good news is that the country has managed to maintain social cohesion throughout the crisis.

The bad news is that Greece hasn’t managed to escape from an old villain — a big and corrupt government sector that strangles the private sector, as evidenced by Greece’s corruption and economic freedom rankings.

But democracy will eventually change this situation, placing in office a leader who will deal with corruption by scaling back the size of the government sector, and by paving the way for the country to return to markets and reschedule its debt.

Then there’s is human development, an index in which Greece ranks among the top thirty countries in the world. One important factor is the nation’s years of general and postgraduate education, which has helped produce a Greek labor force that is both creative and innovative enough to compete in the global economy.

You may be interested

Govt dismisses press speculation: FinMin Tsakalotos to lead negotiations over third program review
FINANCE
shares18 views
FINANCE
shares18 views

Govt dismisses press speculation: FinMin Tsakalotos to lead negotiations over third program review

Panos - Aug 17, 2017

The leftist-rightist coalition on Wednesday dismissed a latest round of press speculation over the standing of Greek Finance Minister Euclid…

Weather forecast: Mostly Fair
GREECE
shares8 views
GREECE
shares8 views

Weather forecast: Mostly Fair

Panos - Aug 17, 2017

Mostly fair weather and northerly winds are forecast for Thursday. Wind velocity will reach 7 on the Beaufort scale. Scattered…

Athens Newspapers Headlines
GREECE
shares34 views
GREECE
shares34 views

Athens Newspapers Headlines

Panos - Aug 17, 2017

Leave a Comment

Your email address will not be published.