Blight on the econ­omy

Kathimerini English - - Front Page -

The cap­i­tals con­trols im­posed on Greece last month is a blight that was caused by an ex­cess of lev­ity and which has led to in­cal­cu­la­ble dam­age be­ing wreaked on the coun­try. While the ma­jor­ity of the Greek peo­ple are pas­sively ob­serv­ing rul­ing SYRIZA’s in­ner-party drama and wait­ing for a so­lu­tion to emerge through ne­go­ti­a­tions for a new pro­posed bailout, the econ­omy is bleed­ing. The Greek In­ter­na­tional Busi­ness As­so­ci­a­tion re­cently re­ported that about 80 per­cent of raw ma­te­ri­als and prod­ucts used in lo­cal pro­duc­tion are im­ported from other coun­tries. When the money re­leased for im­ports is in­suf­fi­cient be­cause of re­stric­tions and bad man­age­ment, both im­ports and ex­ports are af­fected. It should be both the gov­ern­ment’s and the cred­i­tors’ pri­or­ity to solve this prob­lem im­me­di­ately. If they fail to do so any other sal­va­tion ef­fort will prove to no avail.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.