Saving what’s left
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.