The Public Power Corporation (PPC) is teetering on the brink of bankruptcy. There are many factors at play that can explain this sorry state of affairs. But two stand out in particular: cheap populism and the uglier side of trade unionism.
To begin with, no company – and especially not the biggest in Greece – should be allowed to be run by unionists. What’s more, PPC should not have to pay the price tag that comes with the stubborn obsession that politicians, and particularly those in government, have with populism. Nor should it be at the mercy of their incompetence.
It is fundamental mistakes such as these that have cost the state-run utility untold amounts over the decades, and now the time has come to pay the piper.
It is incumbent upon the government to take the bold decisions necessary in order to prevent the worst from occurring whose reverberations will be felt well beyond PPC.