This is an outstanding article by Michael Jacobides, professor of entrepeneurshship and innovation at London Business School, published by HBR.
The article concludes that ‘by forcing the government remove institutional barriers to competition and innovative the deal will create a sound basis for economic growth and development’.
The historical summary of the Greek crisis is excellent, especially the role of the ECB and the IMF, who protected German and French banks exposed to Greek debt – this was at the potential cost of European taxpayers.
Let me ask an open question:
When will the troika (ECB, IMF and EC) be held accountable for their mistakes in Greece?