Growth is the key to the future

After a long delay, the government, as of yesterday, has finally turned its attention to the issue of growth and the long-term viability of the Greek economy. The people and the business community have been waiting to hear initiatives in this area for some months now, as no one in the government had outlined a plan to pull Greece out of this deep recession. Prime Minister George Papandreou’s administration, however, will have to tread very carefully. First of all, it would be a mistake for certain people to believe that investments will be made via the government or via the very rotten institution of subsidies. Secondly, the hunt for fast and spectacular investments by government officials may lead to more trouble than they are ultimately worth and could raise doubts as to the real motives behind them. Last, but not least, the government needs to solve a string of structural problems that have proved to be such an obstacle to investors who may be interested in Greece and, in this area, the present government has done absolutely nothing.

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