The Foundation for Economic and Industrial Research (IOVE) has called all implicated parties to assume their responsibilities in order to help the Greek economy overcome the deadlock, in its latest regular economic report.
In its report IOVE notes that all implicated parties must assume their major and possibly historic responsibilities, provided their mutual and non-negotiable goal is to help the Greek economy grow.
IOVE further stresses that the goal must be to create the necessary conditions for a high growth-rate, which in turn require deep structural changes, rather than any further fiscal consolidation. The report underlines the need to end the uncertainty in order to regain the necessary degrees of freedom to exercise economic policy.
The recent financial developments though do not allow IOVE to be confident about growth rates however, as it is pointed out, under certain conditions, a growth rate in excess of 1% may be an important development.
The report additionally highlights the critical phase of the Greek economy and notes that despite the successes along the way, there have been a number of failures that further extended the recessions.
