Undermining competitiveness

With the exception of Greece’s tourism industry, which has made a remarkable contribution to the local economy, any economic growth achieved so far has been due to measures that were introduced with the aim of reducing labor costs and, more generally, to reforms introduced in the labor market.

Those governing Greece today have made no attempt to hide their intention to scrap these measures at the first opportunity.

Doing so, however, would be a grave mistake as it would inflict a serious blow to the country’s competitiveness.

The urge to satisfy the needs of leftist party cronies and trade unionists will harm the Greek economy at a time when it was starting to pick up.