Another sign of decline

Greece has once again followed a familiar pattern, as it has lost ground on the latest Doing Business index published by the World Bank. According to the report, which is set to be formally released today and which assesses how easy it is to do business in 183 countries, Greece slipped 12 places to position number 109 – ranking below countries such as Ethiopia and Papua New Guinea. It was amid much pomp and fanfare last year that the ruling Socialists of Prime Minister George Papandreou announced new legislation designed to simplify and accelerate the process of setting up new businesses in the country. It appears, however, that the law has been shelved. At the same time, a scheme to reduce the inordinate number of laws has also failed to materialize, becoming the subject of scorn in the corridors of power. Unless PASOK government officials do not get down to business, the much-desired economic growth will only remain a distant dream.