Mao, Castro, Tsipras, Merkel…

Anyone with a sense of the financial circumstances in Greece is aware that things are crystal clear and that there are…

Mao, Castro, Tsipras, Merkel… |

Anyone with a sense of the financial circumstances in Greece is aware that things are crystal clear and that there are also not many options.

For the past few years our country has been living in a fully interdependent and interrelated world, without any prospects of change in the near future.

Furthermore, Greece happens to be monetarily and financially dependent on the European Union, as it is part of the Eurozone and as such cannot print money and therefore its economy is essentially bankrupt, only surviving thanks to the help of others.

The problem of the Greek economy, which is primarily one of funding and production, is fully reflected in savings and investments.

Savings are in decline when most of Europe is saving almost 80% of its national income. This alone automatically means that more than 30 billion euros is missing from the Greek economy. If one were to take into account that investments have flat-lined, having retreated from 13% to 1% of the GDP, then it is easy to see at least 50 billion euros is missing from our economy.

In the present world for a country that doesn’t have its own currency, in the sense that it cannot print money to address the savings and investments shortfall, there are not many ways to thrive.

Whether it is Mao, Castro, Tsipras or Merkel in charge, there are no magical solutions. The only safe way for the country out of this is crisis is through foreign capital and international investments.

For that to happen though, trust, stability, security and an environment of opportunity must be built. This is where politics come into play and must make the necessary decisions to ensure the aforementioned.

Truth be told, whether we like it or not, the only path for Greece in the present world – it must be stressed – is the liberal path.

Under the present circumstances, the government, opposition parties and everyone in charge of the country’s course have a duty to fully adopt the liberal doctrine, deregulate the economy, accept reforms mandated by this turn and fully support the wave of production and creation that will allow foreigners to return to Greece and offer the funds that are missing.

In other worlds the Greek political world must overcome ideologies and obsessions and make a brave decision for tomorrow and bring back hope to the Greek people.

If liberal politics are established, then special zones can be developed for large multinational companies, to create special tax arrangements for foreign nationals and international investment companies, to offer incentives for tourist development in coastal areas, to take advantage of all harbor trade zones, so that Greece may become an international hub of capital and trade, where everything converges.

Greece is too small a country to change the world. What it can do though is take advantage of the opportunities offered by the modern world. Greece can prosper, once again. It is not unfeasible. It is a matter of choice.

Antonis Karakousis

Originally published in the Sunday print edition

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