The bane of in­se­cu­rity

Kathimerini English - - Front Page -

Any for­eign in­vestor wish­ing to put his money in the Greek econ­omy will have to over­come all sorts of ob­sta­cles. Those who have al­ready tried their luck all share the same big anx­i­ety: They have no idea what’s com­ing next. There is in­deed a sense of in­se­cu­rity that ren­ders Greece a very unique and deeply prob­lem­atic case. Noth­ing is sta­ble here and noth­ing can be taken for granted. A min­is­ter can make changes to the tax sys­tem sim­ply be­cause he thought it sounded like a good idea at the time. Sim­i­larly, a tax of­fi­cer can in­ter­pret a par­tic­u­lar law in the way he sees fit. On top of all that, no one re­ally knows when tax vi­o­la­tion cases are writ­ten off. Worse, even, au­thor­i­ties of­ten in­tro­duce changes that have a retroac­tive ef­fect in fun­da­men­tal ar­eas like town plan­ning for ex­am­ple. Fi­nally, there is al­ways the de­lays in ju­di­cial pro­ceed­ings. It makes one won­der why a coura­geous in­vestor would not rather try his luck in one of those re­al­ity sur­vival shows on TV.

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