OPINION

Opinion

The euro will reveal our serious weaknesses. Above all, the amount of euros that we will have in our pockets will be much smaller than that possessed by most other Europeans. However, given that prices tend to converge at a much faster rate than incomes, the chasm will be immediately evident and striking. The only way to accelerate the process of convergence will be to run faster than everyone else. This entails a higher growth rate. But it will not be enough on its own. The huge EU funds may boost economic indicators but they cannot bridge the divide in purchasing power. That would take a precipitous rise in our own productivity. And because salaried workers will not be able to do this on their own, businesses will have to enhance productivity – which will be no easy task, as it presupposes investment, skills, a different mentality, more clients and careful income redistribution. In short, the euro is a passport to the wealthy but highly challenging world of mature economies. We should always bear in mind that a currency conceals a particular model of economic relations. And the model inherent in the euro does not look much like ours… The facts indicate that Axon tried to purchase Olympic Airways in order to cover its problem behind Olympic’s even greater hardships. The question, however, isn’t Liakounakos’s plans and possible moves, but rather the handling of the case by the government agents who were responsible. Recent developments have revealed their heavy political responsibility. Developments, of course, averted a giant scandal at the last moment. This necessitates rather than precludes a further investigation into the criteria of involvement of sellers and purchasers in what is a clearly suspect case.