A management use of low quality by the Greek governments sometimes dangerous or even scandalous, a decision of the European Parliament for example to control the phones of the MEPs revealed the scandal of wiretapping. The national tragedy with the collision of the two trains and the 59 dead who are seeking justice, revealed that partisanship and corruption reign in the Greek state which is being looted for appointments of the clients-voters of the ruling parties. A relatively common cyber-attack knocked out the subject bank and exposed the carelessness of cyber-security measures.<\/p>\n\n\n\n
The outgoing and soon returning government was fortunate to manage the crisis caused by the Pandemic and the war in Ukraine by distributing over 60 billion euros, with customer-type criteria and tires and indeed, always with the blessings of the Commission – which it secured with the attitude and manipulations of the Minister of Finance.<\/p>\n\n\n\n
In one respect, this policy worked: the delusion that the Greek economy was on a growth trajectory was the basis of the electoral victory of the New Democracy party. The abundance of funds from European resources or indirect taxes, their distribution “through the window” to what moves in the territory without strict and fair criteria and the magical effect of inflation on GDP and tax revenues made the fertile ground for them to grow together with well-known “money tree” and the delusions of dynamic growth attracting capital (even though these go to the market of red loans for real estate and businesses that already exist and not to new productive investments) and of changing the production model to a new and outward-looking one, even though the internationally tradable ones goods and medium and high technology is not too small a percentage of Greece’s GDP.<\/p>\n\n\n\n
From another point of view this policy led Greece to lose a lot of valuable time. Greece’s problems are due to:<\/p>\n\n\n\n
1. <\/strong>In the non-production of products of high added value. In the non-production of medium and high technology products.<\/p>\n\n\n\n 2.<\/strong> The production problem of the Greek economy crystallizes in a particular element of it, which is the low percentage of internationally tradable goods and services in terms of the total GDP taking into account the country’s income level.<\/p>\n\n\n\n 3.<\/strong> The country’s output gap, the difference between actual and potential GDP with perfect allocation of resources, is closing while there is very high unemployment of 12.5% and a dangerous opening in the balance of payments.<\/p>\n\n\n\n 4.<\/strong> The Commission sounded the alarm about the risk of macroeconomic destabilization in Greece, because with a limit of 4% of GDP, the trade balance deficit is at around 10% and will remain at 7% for 2023, even though fuel prices have fallen and the economic situation is weakening magnification.<\/p>\n\n\n\n 5.<\/strong> The public debt has soared, it has absorbed all the resources of the funds and although servicing it is not a problem, thanks to Mrs. Lagarde and the arrangements of past years in 2032 the end of the grace period is close.<\/p>\n\n\n\n The euphoria caused by the abundance of money is expected to continue in the next 2-3 years, while the bet for the Greek economy is different, i.e. if its governments see it as a window of opportunity to strengthen the productive base of the economy or it will be exhausted in phenomena Bubble.<\/p>\n","protected":false},"excerpt":{"rendered":" A management use of low quality by the Greek governments sometimes dangerous or even scandalous, a decision of the European Parliament for example to…<\/p>\n","protected":false},"author":1,"featured_media":14175,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[859,5],"tags":[1983,146,97,402],"class_list":["post-14174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-economic","tag-economy","tag-greece","tag-growth","tag-prosperity"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/14174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14174"}],"version-history":[{"count":1,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/14174\/revisions"}],"predecessor-version":[{"id":14176,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/14174\/revisions\/14176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/media\/14175"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}