Sav­ing what’s left

Kathimerini English - - Front Page -

The re­struc­tur­ing of cer­tain sec­tors of the Greek econ­omy has be­come ab­so­lutely im­per­a­tive. There are com­pa­nies in cer­tain sec­tors which are not sus­tain­able, busi­nesses that have failed to present any sub­stan­tial plan for any kind of re­struc­tur­ing and have taken out too many loans. For as long as they con­tinue to op­er­ate as zom­bies, they risk bring­ing down with them what­ever is left of the coun­try’s pro­duc­tive en­ti­ties. Banks have a cru­cial role to play at this par­tic­u­larly dif­fi­cult junc­ture. It’s time to re­in­force those pro­duc­tive, ex­port-ori­ented en­ter­prises which fol­low care­fully thought out busi­ness plans, com­pa­nies that could even­tu­ally ab­sorb other en­ter­prises which are in dif­fi­culty. If that doesn’t hap­pen in the very near fu­ture, the cur­rent cri­sis could de­stroy what­ever re­mains of the healthy econ­omy, upon which re­cov­ery and pro­duc­tiv­ity could rely, along with ev­ery­thing else.

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