Vulnerable in times of crisis

Greece is running a very serious risk of finding itself unable to bounce back economically as other developed nations will, once the international financial crisis begins to ebb for good. The reason for this is that the structural problems that the country faces and the crisis in many important sectors of its society and economy are conditions that existed before the crisis and therefore make Greece more vulnerable to its aftereffects. As things stand right now, Greece runs the risk of finding itself burdened with a high public debt at a time when other countries are recovering from the credit crunch and whichever party finds itself governing the country in the future will have to face a lethal combination of debt and low competitiveness. Opposition party PASOK needs to understand that the age of grandstanding is over and that the solution to Greece’s structural ailments lies only in political consensus and a realistic approach to very real problems. By lending its support to bold solutions and reform, it will help its own cause and, more importantly, it will also be of help to the country as a whole.

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