Change of mentality needed for growth
The end of 2010 finds the country beset with soaring unemployment rates while few households have been spared from the impact of the financial crisis.
Nevertheless, the Socialist administration has been introducing a number of significant reforms that had long been stymied by the fear of political cost. Some of these reforms, mostly mandated by the so-called memorandum signed with the European Union and the International Monetary Fund, have drawn support from both mainstream parties – a first in a very long period of time.
But the question remains: Can Greece escape the threat of bankruptcy and revive economic growth? The answer is yes, as long as we Greeks change our mentality as a people.
Slashing wages is not enough to make us competitive. We must become better professionals. We must produce quality products. We must really improve on our tourism services.
It?s only when these changes have been made, and when the state and pressure groups stop fighting entrepreneurship, that the country will be able to re-establish itself on a growth trajectory.
