Opinion – Greece’s Problem Is More Complicated than Austerity – HBR – John Gelmini

The short answer to Dr Alf’s question is ‘never’.

With regard to the Michael Jacobides article, the problems faced by Greece are considerably more complex than just austerity and its application.

Forcing the Greek government to remove barriers to competition and innovation will help but on their own they will not be enough.

Measures to change cultural values, like early retirement on a full pension, lack of productivity, tax evasion, corruption and theft of monies from the public purse will also be needed.

Then, the Greek economy needs restructuring, plus marketing to bring in wealthy tourists and conference attendees. After that university degrees need to be matched to the skills the country needs – there’s too much waste in Greece’s education system.

John Gelmini

Yanis Varoufakis faces criminal prosecution over clandestine ‘Plan B’ currency plot – Telegraph

This is a must-read article from the Telegraph. Check it out!

via Yanis Varoufakis faces criminal prosecution over clandestine ‘Plan B’ currency plot – Telegraph.

Personally, I think that Yanis Varoufakis should face a criminal prosecution. Certainly, many people feel that his arrogant behavior showed a disdain for law and order. Greece suffered much pain and loss directly because of the errors of judgement of Varoufakis. Simply, if he committed criminal actions, then he should be brought to account like any other citizen.

Thoughts?

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