Allergic to investment?
The spectacular drop in the number of new businesses registered between July and August this year is a result of the capital controls introduced by the leftist-led government to avoid financial collapse.
Of course it should be said that most of these are catering businesses (bars, restaurants, souvlaki joints and bakeries), which hardly contribute to economic growth.
Far more crucial is the drop in revenue reported in the transport business. July figures were reportedly 60 percent down on the same period last year.
It is about time the SYRIZA-led government made good on its pledges to encourage growth in Greece’s anemic economy. In other words, the administration must abandon its investment-shy rhetoric and decisions (an attitude reflected in the Halkidiki gold mines) and create an environment that is friendlier to foreign investors.
The question is, can it really change so radically?
