All that it needs is a push…

Everyone can see that our economy is struggling. Slow to move, taking occasionally small…

All that it needs is a push… |

Everyone can see that our economy is struggling.

Slow to move, taking occasionally small steps, surrounded by the remnants of the last era, the times of imprudence and thoughtless waste.

But even where structures are still standing tall, fear, insecurity and uncertainty prevail, primarily due to the inability of the political system to convey a message certainty and stability and present a credible plan to overcome the crisis.

For the past two years the government has bee struggling for impressions and impressions alone.

But in the end it is losing in this playing field too.

The debt remains unaddressed, the taxes in place and businesses without fresh money.

As a result, there are no initiatives and assistance.

The state remains trapped by the imperative need for budgetary stabilization that it has recognized and cannot deny any more.

The banks are also immobilized, trapped in a cycle of lack of funds and disputed demands.

In essence, the country is being afflicted by a lack of stability and a lack of resources.

So long as it carries on slowly and insecurely, there will be no salvation.

Everyone is aware of what needs to be done.

Greece has a duty to take charge of its own salvation, without middlemen and third party guarantors.

The state must tidy itself up as soon as possible, spend the least amount possible so that it does not burden the people excessively; the banks must clarify as soon as possible what will happen with the non-performing loans, not in a vengeful way, but with imagination and creativity, so that the benefits, capabilities and must-needed financial resources are revealed.

The tools are there.

With necessary reforms the state must limit its expenses, tackle tax evasion though new technologies and this reduce the tax burden.

The banks can also set the foundation for rebooting the economy by restructures, debt settlements, foreclosures where necessary and selling off portfolios to consolidate businesses.

If the bankers can overcome the dominant money-changing logic, used the aforementioned tools creatively and imaginatively, they will reveal hidden values and open news windows of opportunity for businesses that are suffering in the current credit crunch.

Truth be told, the Greek economy has shown that it has the strength, more than what the experts think.

In the long-term crisis, despite the many damages, it has endured and continues to endure despite the current government’s antics.

All that is needed now is one push and the economy will take off.

Our miserable and useless governors just need to realize this.

Antonis Karakousis
Originally published in the Sunday print edition

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