The pauperization of what used to be Greece’s middle class continues at a fast pace. Exorbitant taxes and social security contributions are suffocating citizens.
At the same time, officials appear to be only interested in the wellbeing of their political clientele, appointing their acolytes and promising handouts to particular groups. Meanwhile, their reactionary ideological baggage is making them view entrepreneurship and the making of profit with skeptcism.
Some of the country’s lenders are aware of the deadlock but, also with the excuse of the government’s lack of credibility, insist on imposing a fiscal straight-jacket of excessive primary surpluses.
All this is taking its toll on the country’s creative forces and they will not be able to stand the pressure for very much longer.
Without a government that is genuinely interested in and committed to seeing a return to economic growth and a parallel easing of fiscal targets, Greece’s problems will only intensify.