Still on the wrong path

Like his predecessors, Prime Minister Alexis Tsipras is looking for a miracle to kick-start the economy. He believes that the people will forgive him the broken promises because they will see the economy rebounding. Sure, the economy has shown great resilience given the experiments and mishaps of 2015, but the way the government is going about it, it will never be able to take off; quite the opposite.

Overtaxation may be the easy solution; it may even bring in some votes from the more desperate sections of society. But it is destroying the country’s productive core and it is leading people who work hard either to leave the country to make a life elsewhere or, even worse, to tax evasion as a means of survival.

The same is the case with the increases in social security contributions.

As far as foreign investments are concerned, the prime minister is busy trying to bring them in and his ministers are chasing them away with their attitude.
Nothing about this suggests that Greece will get on the path to growth anytime soon.

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