The government lacked even the slightest cognisance of the impact of its policies on the economy and society.
The financial daily reports that investors are already buying up Greek stocks as they view the electoral results to date as the prelude of a victory for conservative-liberal New Democracy.
“Moody’s expects a more rapid rate of increase in deposits and a gradual drop in NPLs,” said VP-Senior Credit Officer Nontas Nikolaidis.
Any investment had to pass multiple hurdles to gain initial approval. Then it was blocked by either by the bureaucracy or incompetent political management.
Tourism-related investment activity amounted to 5bn euros, of which 1.9bn concerned domestic added value.
New Democracy is the undisputed victor of the European Parliament elections and its dominance in almost the entire country is complete and leveling.
To some extent the passion for power that the PM has developed and his ambitions are understandable, but Greece’s future cannot be determined or bound by them.
The IMF's report underlines that the delay in the restructuring of the debt undermined the prospects of a Greek economic recovery and questions the efficacy of the 2012 haircut on the Greek debt (PSI).
The finance minister said that the worst thing that the government did was to cut pensions, “although we tried to make it less painful than the right-wing would have”.
Voters must decide if they will settle for petty, piecemeal responses to problems and arrangements or whether they will spread their wings and seize the opportunity that lies before them.
The government is continuing the old party practice of cutting ribbons at half-finished public works in order to demonstrate their efficiency.
German Finance Minister Olaf Scholz noted that all eurozone countries must pinpoint problems which could affect their borrowing from markets.
It is clear that the money for the fiscal package announced yesterday comes mainly from two sources: over-taxation and a steady reduction in public investment.
The Commission appears to be open to the government’s intention of rescinding a law that provides for a lowering of the tax-free threshold as of 1 January, 2020.
'As a left-wing government we want to cut taxes but also to redistribute income and both elements are important,' the Finance Minister said.
Greece’s left-wing government, which constantly attacks neo-liberalism, with its excesses has reached the point of implementing an absolutely restrictive and neo-liberal agenda
Greece’s largest company, the Public Power Corporation, is collapsing. Grand investments are announced but never go forward. Unemployment is declining thanks to part-time employment and 500 euro monthly salaries.
The town has become identified with its high-quality brand name peaches, its organised agricultural cooperatives, and its success in distributing its products throughout Europe.
We seek out or manufacture enemies instead of forging a fundamental consensus so as to escape the vicious circle into which the country has fallen.
The data of the Bank of Greece show that the exposure of Greek banks to non-performing loans (NPLs) amounts to 81.8bn euros, which is 45.4 percent of the total aggregate value of all loans.