The end of an era

Kathimerini English - - Front Page -

We are ex­pe­ri­enc­ing the pain­ful yet nec­es­sary end of an era. The cri­sis has brought to the sur­face a num­ber of ma­jor en­demic prob­lems that can no longer be swept un­der the car­pet. A shakeup is al­ready un­der way in the busi­ness sec­tor. It will come at a price but not as high as the one the coun­try would have to pay if the so­called zom­bies of en­trepreneur­ship were al­lowed to carry on ex­ist­ing through a sys­tem of life-sup­port. Healthy busi­nesses were in dan­ger of clos­ing down as they had to com­pete with firms that failed to pay their loans and sup­pli­ers, and did not meet their ba­sic obli­ga­tions. The Greek econ­omy will turn around but this will en­tail se­ri­ous busi­nesses, in all sec­tors, be­ing able to stand on their feet. The cleanup came a bit too late. Many be­lieve that had it taken place at the be­gin­ning of the cri­sis, com­pet­i­tive com­pa­nies would be in much bet­ter shape today.

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